Drop in debit and credit card costs for retailers in time for Christmas – Fitzpatrick

Fine Gael TD for Louth, Peter Fitzpatrick, has said that the reduction in fees for retailers accepting debit and credit card payments, as well as the extension of contactless payment, is a great boost just ahead of Christmas.

“From now on the cost to retailers for using a debit card will be half the previous rate and for credit cards it will also be significantly lower. This will provide an incentive to retailers who previously would have refused to accept payment by card or who would have required a significant minimum spend.

“I am joining the Minister for Finance, Michael Noonan, in appealing to retailers to now remove this minimum spend requirement and to encourage people to use their debit or credit cards as they please.

“From today, the limit for contactless card payment is also being increased to €30, meaning customers can quickly swipe their card without entering a pin. This is the cheapest and most efficient way to pay, both for the retailer and the consumer.

“The number of people paying by debit card has quadrupled in the last decade due to convenience and because many people prefer not to carry cash. Card payments are also easier for businesses to handle. These changes come at a great time as people get their Christmas shopping underway.

“It is important that retailers shop around card machine providers to ensure they get the full benefit of this reform.

“Cutting costs for retailers helps to create jobs in small and family businesses right around the country, and in turn it encourages people to shop locally. Measures like these are crucial to Fine Gael’s plan to keep the recovery going.

“Over 135,000 jobs have been created since the launch of our Action Plan for Jobs in 2012 but we cannot take for granted that stability and recovery will continue. We must continue to create jobs which lead to affordable, sustainable improvements in our public services using the resources from growing employment.

“Customers will now be able to pay in the most efficient way by using with their debit or credit card, without additional costs for retailers. This is very good news for businesses in all parts of the country.”