Which? response as Visa set to hike interchange fees for UK customers in post-Brexit move

Adam French, Which? Consumer Rights Expert, said:

“It is disappointing that Visa has followed Mastercard in increasing its interchange fees when we shop with EU-based businesses. Since the end of the transition period, we have had to come to terms with a confusing array of new fees and rules and if the increase to interchange fees is passed on to consumers via the price of goods, it will be yet another blow.

“The government must be transparent about how new rules and regulations will impact the money in your pocket and work to address gaps in cross-border consumer protections that emerge – in this case, the protection we could lose from the cap on interchange fees that was in place.”