Proposed cap on UK/EU CC & Debit Card transaction fees

IanSuth

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Business Listing
Apr 1, 2021
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The payments watchdog has proposed a cap on fees that credit card firms such as Mastercard and Visa charge retailers for payments between the UK and the EU.


Specifically a 0.2% debit & 0.3% cc cap on charges to uk sellers selling to eu purchasers

 
'Larger UK firms may absorb these fees, but smaller companies may pass these costs onto UK and EU consumers'

Not visibly!


WIll this really filter down to most merchants? Probably not.

For the middlemen like Paypal, Stripe, SumUp etc it will just increase their profits!
 
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fisicx

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Apologies, PP might not fit in this, but the others do.

The others are intermediaries, where they process the charge on your behalf. If their transaction costs reduce, their profits increase!
 
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NickZ

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    That comment deserves considerably more explanation. It's a fascinating option. Could you? Thanks
    Sure
    To use ****** correctly you need a little basics. Basics are to understand that Bitcoin was created to circumvent banks, out of anger so to say. It's a neat way to channel a monetary value from one party to another without the middleman. bitcoin.org/en/bitcoin-paper
    Bitcoin with a value of below 10$ was cheap to transfer, still to get all confirmations from the Blockchain (a distributed Database) it took time, too much for merchants like stripe. Bitcoin itself is way too slow.
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    As I understand it, an E-commerce business needs to create its client base. P2P is a test on the credibility of merchants and clients.

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    To speed Bitcoin up the Lightning Network was created, unfortunately so they are far from decentralized. Plus you need to have a lightning network enabled wallet.

    There is a lot of fraud in ****** due to being a lawless space. Use common sense.
     
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