CREDIT CARD PAYMENTS

BY KEITH NUTHALLRETAILERS should be able to negotiate cheaper bank charges for handling foreign credit card transactions, the European Commission has claimed, after its pressure helped push VISA and Master Card Europe into publishing fees for such purchases. Until now, their complex formulas have been kept under wraps. They cover fees charged by a credit card's issuing bank to a retailer's bank, when from different countries. Said the Commission: "This development is intended to enhance retailers' ability to negotiate the fees with the banks that are part of the ...


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