MasterCard to push up fees for UK purchases from EU due to Brexit

Re:MasterCard to push up fees for UK purchases from EU due t... by neximo64 on Tuesday January 26, 2021 @07:26AM (#25915034)

Your typical shopify store doesn't charge extra for using Amex or a different card provider (or card country).

It can only be in the shipping cost.

[ Parent | on HN ]

Re:MasterCard to push up fees for UK purchases from EU due t... by throw14082020 on Tuesday January 26, 2021 @07:45AM (#25915188)

The additional cost is amortized over all customers.

[ Parent | on HN ]

Re:MasterCard to push up fees for UK purchases from EU due t... by djbebs on Tuesday January 26, 2021 @07:50AM (#25915220)

So eu clients will be subsidizing uk clients...

[ Parent | on HN ]

Re:MasterCard to push up fees for UK purchases from EU due t... by tomhoward on Tuesday January 26, 2021 @08:09AM (#25915371)

Or merchants will add a little more to their GBP prices.

[ Parent | on HN ]

Re:MasterCard to push up fees for UK purchases from EU due t... by neximo64 on Tuesday January 26, 2021 @08:26AM (#25915496)

If you are a European store, and say you receive in EUR and charge in another currency it is highly disadvantageous to you. The payment processor usually charges a fee to convert the currency. Stripe for example charges 2% to convert (which is worse than the 1.5% interchange fee increase, and is is additive to it). You are significantly worse off in this situation.

Also if you are a British consumer simply pay in Euros, and let your card do the conversion for you - you typically get the interbank rate with most modern banks.

[ Parent | on HN ]

Re:MasterCard to push up fees for UK purchases from EU due t... by nemetroid on Tuesday January 26, 2021 @08:28AM (#25915515)

Assuming that they have GBP prices. When I purchase from abroad, I very very rarely pay in my local currency. The payment processor or (preferably) my bank performs the currency conversion, on my end of the transaction.

[ Parent | on HN ]