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By *ackal1 OP Couple
over a year ago
Manchester |
Can someone explain the benefit for me here?
Credit card company MasterCard aren’t controlled by EU law capping fees anymore so will be increasing costs by 1.5% on purchases made by UK buyers on good from Europe.
Sure that’s extra costs for U.K. consumers but happy to be proved wrong. |
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By *ackal1 OP Couple
over a year ago
Manchester |
"dont use mastercard to buy online from the eu simple see how long that lasts.  "
It is a market issue as long as Barclaycard don’t follow suit but if they do....
Remember the big phone companies have said no roaming charges. It only takes one to start running and the rest will follow.
Maybe I’m just being negative but a company as big as MasterCard surely don’t do things like this lightly.
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By *ostafunMan
over a year ago
near ipswich |
"dont use mastercard to buy online from the eu simple see how long that lasts.
It is a market issue as long as Barclaycard don’t follow suit but if they do....
Remember the big phone companies have said no roaming charges. It only takes one to start running and the rest will follow.
Maybe I’m just being negative but a company as big as MasterCard surely don’t do things like this lightly.
"
Not like you to be negative.  |
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By (user no longer on site)
over a year ago
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"Can someone explain the benefit for me here?
Credit card company MasterCard aren’t controlled by EU law capping fees anymore so will be increasing costs by 1.5% on purchases made by UK buyers on good from Europe.
Sure that’s extra costs for U.K. consumers but happy to be proved wrong. "
It's not extra cost for consumers. It's extra cost for businesses who wish to accept these transactions.
That's not to say that those businesses won't try to pass that cost on with increase carriage prices though. I'm speculating there but it could happen. |
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By *ackal1 OP Couple
over a year ago
Manchester |
"Can someone explain the benefit for me here?
Credit card company MasterCard aren’t controlled by EU law capping fees anymore so will be increasing costs by 1.5% on purchases made by UK buyers on good from Europe.
Sure that’s extra costs for U.K. consumers but happy to be proved wrong.
It's not extra cost for consumers. It's extra cost for businesses who wish to accept these transactions.
That's not to say that those businesses won't try to pass that cost on with increase carriage prices though. I'm speculating there but it could happen."
You are correct the cost is for the business and it will be their choice whether to lose money or pass on for the consumer to lose. Hmmm time will tell. |
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By (user no longer on site)
over a year ago
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"Can someone explain the benefit for me here?
Credit card company MasterCard aren’t controlled by EU law capping fees anymore so will be increasing costs by 1.5% on purchases made by UK buyers on good from Europe.
Sure that’s extra costs for U.K. consumers but happy to be proved wrong.
It's not extra cost for consumers. It's extra cost for businesses who wish to accept these transactions.
That's not to say that those businesses won't try to pass that cost on with increase carriage prices though. I'm speculating there but it could happen.
You are correct the cost is for the business and it will be their choice whether to lose money or pass on for the consumer to lose. Hmmm time will tell. "
The thing is, they will have to pass it on for all consumers and not just those in the UK. Unless of course they do it by increasing carriage prices but a lot of them do that anyway. |
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By *ebbie69Couple
over a year ago
milton keynes |
"Can someone explain the benefit for me here?
Credit card company MasterCard aren’t controlled by EU law capping fees anymore so will be increasing costs by 1.5% on purchases made by UK buyers on good from Europe.
Sure that’s extra costs for U.K. consumers but happy to be proved wrong.
It's not extra cost for consumers. It's extra cost for businesses who wish to accept these transactions.
That's not to say that those businesses won't try to pass that cost on with increase carriage prices though. I'm speculating there but it could happen.
You are correct the cost is for the business and it will be their choice whether to lose money or pass on for the consumer to lose. Hmmm time will tell.
The thing is, they will have to pass it on for all consumers and not just those in the UK. Unless of course they do it by increasing carriage prices but a lot of them do that anyway."
Not sure businesses in the EU are going to be over happy about this either if it makes products less competitive |
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By *ackal1 OP Couple
over a year ago
Manchester |
"Can someone explain the benefit for me here?
Credit card company MasterCard aren’t controlled by EU law capping fees anymore so will be increasing costs by 1.5% on purchases made by UK buyers on good from Europe.
Sure that’s extra costs for U.K. consumers but happy to be proved wrong.
It's not extra cost for consumers. It's extra cost for businesses who wish to accept these transactions.
That's not to say that those businesses won't try to pass that cost on with increase carriage prices though. I'm speculating there but it could happen.
You are correct the cost is for the business and it will be their choice whether to lose money or pass on for the consumer to lose. Hmmm time will tell.
The thing is, they will have to pass it on for all consumers and not just those in the UK. Unless of course they do it by increasing carriage prices but a lot of them do that anyway."
The charges are capped in the EU |
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By (user no longer on site)
over a year ago
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"I haven't seen anything about an increase in fees on the flip side of this.
Strange that they are increasing fees for EU businesses but not UK ones.
On sales to the U.K. only "
The cap only exists within the EU though doesn't it?
Therefore if an EU consumer order from outside the bloc then the business outside could be charged. |
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By *ackal1 OP Couple
over a year ago
Manchester |
"Don’t use MasterCard simple x"
Whilst MasterCard and Barclaycard use a lot of independent systems some of the clearing I believe is joint so I think it’s inevitable costs will rise on other cards eventually.
I’m no expert so feel free to correct on this if you’re in banking. |
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By *ackal1 OP Couple
over a year ago
Manchester |
"I haven't seen anything about an increase in fees on the flip side of this.
Strange that they are increasing fees for EU businesses but not UK ones.
On sales to the U.K. only
The cap only exists within the EU though doesn't it?
Therefore if an EU consumer order from outside the bloc then the business outside could be charged."
Not sure where that sits as only read U.K. charges as that’s all that effects us now on EU purchases . Either way credit companies in EU not allowed to go above cap. So if purchase made inside EU it’s cheaper by default to retailer and ultimately consumer.
Global sales don’t have any cap just like us now. |
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By *ackal1 OP Couple
over a year ago
Manchester |
"The Brexit Benefits were a reduction in price of things, wasn't it  "
Maybe the unicorns will be discounted.
Just heard Liz Truss agree latest deal with New Zealand will lead to a reduction in business of around £300m Cracking deal.
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it seems that the standard answer being trotted out to these problems that leavers dismissed previously as 'project fear' is to accept less choice, less competition and greater expense. how very un-thatcherite |
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