Shops face €10m cost for accepting credit, debit cards

Irish retailers are facing potential costs of around €10m this year for accepting payments via credit and debit cards.

The issue of so-called “interchange fees”, paid by the merchant to the cardholder’s issuing bank, is set to top the agenda at a seminar in Dublin’s Westbury Hotel today, hosted by payment consultancy, CMS Payments Intelligence.

“The rising costs of accepting credit and debit card payments is a serious additional cost that retailers really don’t need right now,” said CMS chief executive Brendan Doyle.