Credit card surcharges banned from Saturday 13th January
There are some important changes to the law regarding surcharges. From the 13th January 2018, the Payment Services Regulation 2017 comes into effect
This regulation implements the EU Payment Services Directive II (PSD2) which has the aim of setting out a common legal framework for businesses and consumers when making and receiving payments within the European Economic Area (EEA). One of the main changes in this new legislation is a change to the guidance on the Consumer Right Payment Surcharges Regulations.
From January 13th, 2018 it will be prohibited for any business to add a surcharge when accepting a payment from a customer online, face to face, over the phone, or by mail order etc.
If you currently apply surcharges to your customers transactions, you must take action before the 13th of January. If you’re unsure whether surcharges are in place via your transaction registration posts, you should consult with your developer who will be able to let you know.