New EU directive makes it possible: Online merchants can save up to 50% on credit card fees
On the 9th of December 2015, a new EU directive comes into force. It offers online retailers the opportunity to reduce their costs for credit card payments by up to 50% – if you take the right steps.
Starting 9th of December 2015, many online store owners can save a lot of money because a drastic reduction of interchange fees – fees, the issuing bank charges the cash feeding bank – comes into force by a new EU directive. As pleasing as this news is, by itself an online retailer will hardly benefit from a reduction in its credit card costs. As with electricity or mobile phone tariffs, existing customers must act on its own in order to benefit from the more favorable conditions.
As always, when a regulatory authority has an impact on existing conditions of a free economy driven market, there are numerous conditions of ongoing contracts to check and then to decide what steps have to be undertaken in order to benefit as quickly and as comprehensively as possible from the advantages. As providers have little interest in showing their existing customers the fastest and best savings, it is advisable to hire independent contractors.
In keeping with the introduction of the new EU directive, How2Pay offers all online retailers a review of its terms and, if possible, a conversion of their contracts – with the goal to raise them the best possible conditions as soon as possible.
If you want to check and change your credit card terms and conditions, then please fill out the opposite contact form. Consultants of How2Pay will then contact you.