IBF and CAI join forces in move to outlaw ‘unfair’ credit card surcharges
The banking umbrella group has joined forces with the Consumers’ Association of Ireland (CAI) to lobby the government for new legislation to ban the practice, which it described as “an additional and unfair cost.”
The surcharges cost consumers millions of euros every year and acted as a major deterrent for people who would otherwise use their cards, the group said. Irish banks are unhappy with a recent move by MasterCard to change the rules governing its scheme in favour of allowing retailers to levy extra charges if they wish. Visa forbids retailers charging credit card users more than people who pay in cash.
