Parliament votes to protect consumers by cutting charges for card payments

GUE/NGL welcomes Parliament's adoption of new EU rules on credit and debit card interchange fees. Once in force, this legislation will significantly reduce the nine billion euros of interchange fees currently paid by retailers for accepting card payments.

Irish MEP Matt Carthy, who follows the issue for the group, said: “Slashing these charges relieves some of the pressure on small retailers. As these fees are indirectly paid by consumers, this move will in turn benefit shoppers at the checkout too.

“We support any action that ensures consumers are not charged excessively for using a debit or credit card. We also want to see an end to the stranglehold card companies have over retailers.”