Forum Topic

Credit card company exploits the benefits of Brexit independence

https://news.sky.com/story/visa-to-hike-interchange-fees-for-uk-customers-in-post-brexit-move-12247818

Jonathan Callaway ● 1867d3 Comments

I think MasterCard got in first ...https://www.finextra.com/newsarticle/37335/mastercard-hikes-interchange-fees-for-uk-online-purchases-from-the-eu

Michael Ixer ● 1867d

Adds to transaction costs and will feed into consumer pricing in due course. Hotels in Dublin, foreign rail tickets bought online, anything bought online from Amazon and invoiced from an EU country (Luxembourg was a favourite, for that company’s tax purposes) will eventually cost us more. We can of course use MasterCard instead but they, as the other half of this credit card duopoly will no doubt follow suit PDQ.

Jonathan Callaway ● 1867d

So, if Visa are being honest and not profiting from this move it confirms that Brexit  is adding costs to trade with the EU. One assumes they aren't being dishonest as presumably they wouldn't lie to regulators. I expect someone will post what the benefits of Brexit are before long.

Michael Ixer ● 1867d