Payment systems
Prices in Europe are artificially inflated because of hidden fees for debit and credit cards transactions, fees which all shoppers end up paying for. The payment cards cartel argues that these fees are essential to run card schemes, whilst there are card schemes in Europe which operate successfully without hidden fees!
Europe's retailers want the best for Europe's shoppers in terms of price, quality, service and choice. We believe Europe's shoppers have the right to know. We believe that there should be pan-European competition and real transparency concerning all fees and charges levied on credit and debit cards use.
ERRT has been working since 1997 to change this system whereby the banks operate the payments cards system anti-competitively, resulting in high prices being charged to retailers and consumers.
That's why we would encourage you to view the 'Stop Unfair Card Fees' web site, so that you as a shopper can be informed about these hidden fees and can encourage decision-makers to crack down on these and anti-competitive practices.
Press releases:
Mastercard decision on MIF: Good progress, much further to go...(1 April 2009)
Big Retailers welcome scrapping of Interchange fee (13 June 2008)
Cross Border Interchange (6 June 2008)
ERRT welcomes opening of VISA investigation (26 March 2008)
DG Comp Ruling on Mastercard(19 December 2007)