Contactless Payment Points Could Be Made Compulsory In All UK Shops
by Carol Adl
YourNewsWire.com
August 28, 2015
All British retailers will have to offer the tap-and-go system by the year 2020, a move that will likely see the end of £5 minimum spend rules.
Shops will continue to accept regular card payments but under new rules introduced by Visa and Mastercard it will become compulsory for shopkeepers to provide a contactless payment method within the next five years.
The MailOnline reports:
Independent retailers and cornershops often have a £5 minimum spend policy on debit and credit card transactions to cover the charges imposed by banks for processing the payments.
But the ease of contactless payments means that retailers are charged significantly less for transactions involving touch-and-go cards.
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