Posted on: 23rd July 2017 in Finance UKOn 18 July 2017, the UK Treasury announced that British consumers would finally see the back of ALL “rip-off card charges.” The Telegraph confirms that “all consumer-facing credit and debit fees, which can be as high as 20 per cent, will be outlawed from next year under an EU rule change.” The UK Government has set a deadline of January 2018 for vendors to stop skimming on transactions. The decisive action will mean savings for us consumers on an ongoing basis. But what about companies? Companies in three consumer sectors in particular will, thanks to the way they make money, be hit hardest by the upcoming ban on card transaction surcharges: food apps, budget airlines and clothing.
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