Mastercard to raise fees to EU firms by 500% for online sales to UK shoppers

Change from October could lead to higher prices for those paying with UK-issued cards

Mastercard is to increase the fees it charges EU firms to take payments from online shoppers from the UK by at least 500%, in a move that could mean higher prices for consumers.

The company charges 0.3% to process credit card payments and 0.2% to handle debit card payments but it has told EU firms that these will increase to 1.5% and 1.15% respectively from 15 October.

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Source: https://www.theguardian.com/money/2021/jan/25/mastercard-to-raise-fees-to-eu-firms-by-500-percent-for-online-sales-to-uk-shoppers
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The Article Was Written/Published By: Hilary Osborne

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