Card costs increase …. AGAIN!
It seems that no sooner have we adjusted to one change, than there is another around the next corner. The next development to brace yourselves for, is the increase in scheme fees that MasterCard and Visa have announced will take place in April this year. Early indicators are that one element is increasing by almost 100%.
Panic not … we are still talking very small amounts: a 100% increase of a small cost, is still a small cost. But it all adds up! This is just a continuation of an upward trend and one that will put a further burden on an organisation’s running costs.
We cannot over-emphasise the importance of reviewing your merchant (card) acquiring contracts regularly, in order to ensure that value for money is being achieved and costs are kept to a minimum. We have seen significant savings, where clients have tendered for these services.