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Companies in the UK are set to receive improved transparency in connection with card payment fees, following the publication today of draft guidance by the Payment Systems Regulator (PSR).
The draft guidance lays out the way in which the PSR will monitor and enforce newer elements of the EU Interchange Fee Regulation (IFR) which are due to take effect in June this year. It provides details on how companies that process card transactions on behalf of merchants, known as acquirers, must clarify what costs make up the fee for each transaction, known as the Merchant Service Charge (MSC).
[b]The ... ([url=http://www.financemagnates.com/fintech/payments/card-payment-fees-become-transparent-merchants/]read more)