TOMORROW, DEC 9th 2015 – THE MOST IMPORTANT DATE IN IRISH CARD PAYMENT HISTORY
From tomorrow, the 9th December, the base cost of all CARD TRANSACTIONS (known as interchange) for all DEBIT & CREDIT CARDS (Visa, Mastercard etc.) WILL REDUCE to no more than 0.20% domestic for debits (lower again for contactless payments those less than €30) and no more than 0.30% domestic credit card payments.
This is what it will cost your current provider BEFORE they add their margin, so it will be interesting to see if your Bank or Provider pass these reductions on to you immediately
This is a European Directive and must be introduced as and from 9th December.
We haven’t heard of any of the banking providers announcing this GOOD NEWS. Maybe they just FORGOT or, more likely, if you don’t know that their costs have been reduced then there is no need to reduce your rates.
REMEMBER this is an EU DIRECTIVE and must be introduced.
So contact your PROVIDER IMMEDIATELY and take advantage of the COST REDUCTION.
Even if you currently do not accept card payments, maybe now is the time to change; the costs will be reducing dramatically and packages with no minimum monthly contract payment will be available.