In response to the Government’s consultation on how to implement the EU cap on credit and debit card transaction fees, Nicolas Frankcom, money expert at Uswitch.com, says: “This EU cap, due to come into effect from December, was welcomed as great news for credit card users – if savings were to be passed on and retailers, and in turn consumers.
“However, we have already seen Capital One and RBS blame the end of their reward schemes on the EU cap. It seems that instead of consumers seeing a saving passed on to them, it could be pocketed by the retailers.”
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Katherine Moss
Phone: 020 3021 5893
Email: katherine.moss@uswitch.com
Twitter: @uswitchPR
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