EU sellers! Law changes today!

Hoddie

From today, fees on credit card and debit card transactions in the EU will be capped at 0.3% and 0.2% respectively, well below the previous averages of 0.85% and 0.21%. This is the fee charged by card processing companies, and if yours charges more then they're breaking the law. Remember, EU law prohibits retailers from passing on the cost of processing payments unless the amount charged represents the actual difference in cost between processing the various methods of payment you accept.

minithingsforlife

Had an email from stripe this morning saying their fees are being lowered.

unbrickable

Does it also apply for paypal?

Hoddie

It probably should but they'll argue the toss that their fees aren't card processing fees, even though in many cases that's exactly what they are. I'm sure there'll be a test case soon enough.