Surcharge (payment systems)
A Surcharge is an extra fee charged by a card acceptant when paying with cheque, credit Card, charge Card or debit card (but not cash) to cover the cost of the merchant service charge.[1] It may be prohibited by card issuers — at all (e.g. Visa and MasterCard in the United States) or when the acceptant also accepts cards with a prohibited surcharge. Law may force to allow or prohibit a surcharge. No surcharge means that it is included in prices (even when paying with cash).
European Union
Surcharges are permitted in the European Union but, in March 2015, the European Parliament voted to cap interchange fees to 0.3% for credit cards and to 0.2% for debit cards.[2]
United Kingdom
In the United Kingdom, The Consumer Rights (Payment Surcharges) Regulations 2012 limits payment surcharges but there are some exceptions. Payments for the supply of water, gas and electricity are regulated but payments for calls from public telephones are not regulated.[3]
References
- ↑ http://www.wisegeek.com/what-is-a-credit-card-surcharge.htm
- ↑ http://europa.eu/rapid/press-release_IP-15-4585_en.htm
- ↑ http://www.legislation.gov.uk/uksi/2012/3110/pdfs/uksi_20123110_en.pdf
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