Insight Retail Group Ltd’s Post

The Payments System Regulator has proposed the introduction of a price cap to protect UK businesses from increasing cross border interchange fees https://lnkd.in/e3uj7cXB #fees #interchangefee #retail #retailnews #cardpayments #eu #payments

Are interchange regulations really in your favor? Big box retailers push for them, but are they protecting your business—or theirs? Interchange fees were supposed to help. But in reality, small businesses like coffee shops and convenience stores are seeing their costs soar. So, who’s pocketing the real benefits here? Our compliance expert at JJS Global, exposes why business owners need to seriously question these so-called "savings." The truth? Many businesses have no idea what they're really paying in fees—and that’s where it gets dangerous. You deserve transparency. Every business owner paying interchange pass-through should demand to see the breakdown of their fees. Yet processors claim they don’t have the info. Spoiler: They do. And they’re using it to pay agents. If they have it, why are they keeping you in the dark? Small ticket merchants were hit the hardest—facing effective rates of 4% OR MORE per transaction. Bottom line: Interchange regulation wasn’t built with your business in mind. Before you cheer for new regulations, ask yourself—is this helping my business or lining big retailers’ pockets? #PaymentTransparency #SmallBusinessAdvocacy #InterchangeFeesExposed

Are European merchants really loosing €60bn per annum in missed sales??? Some great insights on the thorny topic of declines from my excellent colleagues Nick Saywell and Tom Hay. Worth 5 mins of your day! #payments #declines# #innovation #acceptance

Purchasing delays impact both consumers, as it did last week, and businesses. Unclear costs and settlement times for international payments lead to increased back-and-forth with suppliers. #Purchasing #InternationalPayments #SupplyChain

Indeed for an offline digital payment, there are tricky issues to take care of. In the design for the offline digital euro the holding value for a receiving shop is set to zero. Which means that any offline-paid purchase is deposited in the shops online digital euro account. This leaves a record of that payment which could e correlated with other information about the payer. That is clearly an error that needs correction.

Cash use has increased, according to the latest British Retail Consortium Payments Survey https://lnkd.in/e9qvaW2R #cash #payments #consumerspending #cashtransactions #cardpayments #paymenttechnology

Price cap proposal a win for retailers and customers. 🎉 On Friday, the Payments System Regulator published its final report into its market review of cross border interchange fees. Cross border interchange fees are currently set by card schemes and paid by UK merchants when accepting payments from EEA customers. 💳 The PSR's key findings include: A lack of competition: “Mastercard and Visa were not subject to effective competitive constraints, allowing them to increase their fees to an unduly high level.” 📈 Costly increases: “Mastercard and Visa raised their fees without regard to the potential impacts on or interests of businesses and their customers. The PSR found that the increases are costing businesses £150-200 million extra annually.” 💰   Unclear rationale: “The PSR did not identify any justifications for the increases. Mastercard and Visa were not able to show that they undertook any specific assessment when deciding to increase their fees and the PSR has seen no evidence that the pre-increase fee levels were not working.” 🤔 We welcome the findings of the report and the proposal to introduce a price cap. This follows representations from businesses organisations, including the British Retail Consortium, who have long called out the dysfunction in the payments market, which harms businesses. 👏 Read the thoughts of Payments Policy Adviser, Christopher Owen, below. 👇 https://lnkd.in/euqzvb3h

Steal this checklist to stay prepped for #CyberMonday, as a Caribbean Merchant. #ecommerce #caribbean #payments #digitalpayments

⏱️BNPL can lead to bad debt and overspending! Time for more regulation and what does this mean for retailers? In this article, Mark Beresford (Head of the Retail Practice, London), looks at how the Consumer Financial Protection Bureau (CFPB) ruling on BNPL has potential implications for North American merchants. It also asks, could the FCA in the UK and the EU regulators look at how the USA is regulating BNPL and learn a lesson or two. 👉 Read more here: https://lnkd.in/eU8KUHj6 #payments #paymentinnovation #bnpl #regulation 📨 Sign up to Edgar, Dunn & Company Spotlight Newsletter and receive our latest insights, news, webinars, company updates and more: https://lnkd.in/e-R6qhi4

What's the little-known solution to cross-border payment challenges? In my previous post, I highlighted that cross-border transactions account for 12% of the UK's total commerce, a figure that's only set to grow. 📈 While international shopping—whether retail or travel—offers significant opportunities for business growth, it also presents challenges for both merchants and customers. Finding that perfect item or experience ✈️🛍️ can be exciting, but the associated charges from processing fees #, compliance hurdles, and lengthy settlement times ⏳ can detract from the overall experience. Many of us have accepted these issues as an inevitable part of international shopping. However, it doesn't have to be this way! Here's what's possible now: ✅ Smartly route transactions through efficient processors ✅ Negotiate lower fees with merchant banks ✅ Reduce settlement and checkout times All of this can be achieved through a single integration with an independent gateway. While many gateways claim to offer these benefits, it's crucial to note that not all do; many route transactions through their own merchant banks, which can lead to hidden costs. #ecommerce #crossborder #customerexperience