New card charges hit retailers
24 Oct 2008

Retailers will be hit by increased card processing charges following the announcement that two leading banks are backing Visa debit over Maestro.

According to Retail Week the switch could cost retailers an extra £100m a year by 2010 as Royal Bank of Scotland and HSBC move over 2 billion transactions a year onto the Visa debit scheme, which is equivalent to about 97% of transactions.

Visa debit sales cost retailers more in processing charges compared to Maestro.

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