Credit and debit card surcharges ‘are excessive’

High costs, charged by retailers, for the use of credit cards has been a sore point with consumers for a while now.

Which? said low-cost airlines were the worst offenders, with cinemas, hotels and even some local authorities starting to copy them.

It said a family of four booking a return flight with Ryanair would be charged £40 to pay by card – much higher than the cost of processing the payment.

via BBC News – Credit and debit card surcharges ‘are excessive’.

The result of this super-complaint to the Office of Fair Trading (OFT) will be of interest to many.

It is often forgotten that the cash that retailers receive has banking, handling and security costs as well – but consumers don’t get charged for that.

Kevin Harrington Partner

Kevin Harrington is a Partner at Exit Factor UK, helping SME owners increase business value & build a rewarding, well-planned exit. Former CMO at BBC Worldwide.

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