Changes to Visa Debit Card Transaction Fees
Global Payments processor Visa is going to change the way it charges for debit card transactions. Th
Published 17th May 2015
Global Payments processor Visa is going to change the way it charges for debit card transactions. This is in anticipation of the new European payment regulations due to come into motion later this tyear. The new fees will be lower than the current charges for average transaction values (ATVs) of around £35-£40, and will be based on a percentage fee up to an ATV of £249. ATVs of £250 and over will be charged at a fixed rate per transaction.
Bira members will continue to enjoy preferential rates through the bira payment processing deal and the notified rates include a discount on the normal Global Payments charges. Whilst changes have already been made, bira continues to work with the Payment Regulator to challenge transaction-processing fees on behalf of independent retailers and will be attending meetings to discuss the matter further in the near future.
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