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Bank Cards: Fees and Charges

Treasury written question – answered on 6th March 2019.

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Photo of Ged Killen Ged Killen Labour/Co-operative, Rutherglen and Hamilton West

To ask the Chancellor of the Exchequer, whether the Government has plans to reform the cap on interchange rate fees for card payments introduced in the Interchange Fee Regulation 2016 from a percentage cap to a flat rate of 50p per transaction.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The Government is open to hearing views on this issue, and digital payments more broadly, as evidenced by its call for evidence on cash and digital payments in the new economy. Amongst other things, this explored how the Government can best support digital payments. The Government will formally respond to the call for evidence in due course.

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