In our last news item on 20 July, we stated that we would contact the Government about the issue of interchange fees and the high costs incurred by our Members when taking card payments. We have now received a response from the Treasury. This recognises that interchange fees have increased and states that the Government is committed to engaging with industry on the issue, and will be encouraging the Payment Systems Regulator (PSR) to conduct a review of the business impacts of the Interchange Fees Regulation.
ABTA has now arranged a meeting with the lead Treasury official in this area. We have also contacted the PSR and we will continue to pressure the Government to address the problems for our Members caused by the high level of fees charged by credit card companies for processing cards.
In addition, we continue to seek clarity and provide information to Members on the surcharging ban that takes effect in January, and on what businesses can do to steer customers to other payment methods. Our guidance note is updated whenever new information comes to light and now includes confirmation that payment methods such as PayPal and Apple Pay are included in the ban. We understand that the Department for Business will be updating its guidance on payment surcharges shortly and we will notify Members as soon as we have further information.
Mark Tanzer, Chief Executive