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Bank Charges

Dáil Éireann Debate, Wednesday - 20 May 2020

Wednesday, 20 May 2020

Questions (102)

Robert Troy

Question:

102. Deputy Robert Troy asked the Minister for Finance if he has engaged with the banking sector to temporarily remove the current fees charged to businesses for the use of contactless payment (details supplied). [6311/20]

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Written answers (Question to Finance)

The Deputy will aware that card payments, and in particular contactless payments, are being promoted in order to support public health policy at this time.

Fees for the acceptance of card transactions are charged to retailers by their acquirer, who manages the account and relationship between a retailer and the various card schemes.  All acquirers in Ireland are independent commercial entities and I have no statutory role in relation to the charges applied by acquirers.

Acquiring is a competitive market and retailers could stand to benefit from shopping around for lower rates from acquirers for accepting card payments.

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