Published on Wednesday9thDecember2015
Lower fee for retailers accepting cards - Noonan
Minister Noonan with Thomas Ennis, who owns the Spar on Merrion Row, Dublin
Finance Minister Michael Noonan today announced One of the fees retailers face for accepting debit and credit cards is being halved.
From today, the so-called interchange fees banks charge retailers for accepting debit and credit cards will be capped, resulting in significant savings in fees for retailers.
Commenting on the reduced fees, Minister for Finance Michael Noonan stated:
An increasing number of people are choosing to pay by debit card – the rate of usage has more than quadrupled in less than a decade, and is still growing strongly. The reduction in fees will significantly reduce the cost to ordinary retailers of accepting card payments. However retailers must shop-around and make sure that they are getting the best possible deal from their card-machine provider if they are going to get the full benefits of this reform.
For more information read the press release here.