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Chip-and-Pin-Direct-ltd  

  Cash, Mastercard, Visa

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Mastercard and Visa changes announced that will impact every UK merchant.Following on from the EU commission's announcement that the interchange fees that Visa and MasterCard charge the banks will be capped, it has now been announced when these changes will take effect - 1st March 2015.

Worldpay the largest merchant acquirer in the UK are the first to announce their changes and initially look as though they are using the opportunity to re-price in a way that not only covers the changes in interchange but also adds some additional income to their bottom line. They have also suggested that any merchants that wish to leave can leave without penalty by giving 60 day's notice.

Chip and Pin Direct recommend regularly checking your current card processing fees against the market and where cost savings arise, switching. The product is commoditised across the market and it is worthwhile locking in price reductions when you can. Please contact us to get a quote today.