0.2% and 0.3%
Interchange caps on UK consumer debit and credit cards, where merchant, acquirer and issuer are all in the UK. In force since 9 December 2015.
Outside the caps
Consumer cross-border payments between the UK and the EU or any third country are no longer capped. Commercial cards are outside the consumer caps too.
9 June 2016
Since this date acquirers must tell merchants what it costs to accept each brand and category of card. Ask for it in writing.
18 months
Longest initial minimum term for a POS terminal lease or rental, for merchants with card turnover up to £10m.
31 days
Longest rolling renewal term once that initial term has expired. Exit fees must be cost based and explained before you sign.
Summary box
Providers must give merchants with card turnover up to £50m a summary box with tailored pricing, service levels and your own usage.
Quotation tool
The same providers must run an online quotation tool, so you can price your business without a sales call.
+25% and £170m
Core scheme and processing fees rose at least a quarter in real terms from 2017 to 2023, costing UK business at least £170m a year.