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Seven days: 21 July 2017

Seven days: 21 July 2017

Pressure piled on
Reports of tightening regulation around consumer credit products have scarcely left the pages of the IC during recent months. Now the government has announced plans to ban surcharges on credit and debit card payments from January. Customers spent £473m on such charges during 2010 alone, according to estimates by the Treasury. Take-away food apps have among the highest charges, with companies including Just Eat (JE.) and Hungry House adding 50p to the bill for card payments, although this is sometimes paid by the restaurant. The change follows a European Union directive to ban surcharges on Visa and Mastercard payments, although the government plans to extend this to PayPal and American Express.    

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