Consumers face higher prices and new “service charges” as retailers and businesses plan to circumvent the Government’s ban on credit card fees.
From Jan 13, “rip off” fees of up to 3 per cent charged by firms and government bodies when people pay by credit card – ostensibly to off-set charges paid to card companies – will be prohibited.
But The Sunday Telegraph has learned that some retailers and other companies are planning measures to “sneak” around the rules. These include: refusing credit card payments; increasing shelf prices; introducing new “service charges” across the board.
It costs money to run a credit card system. Someone has to pay those costs. Why not the people who use credit cards?