Paphos People

End of legal loophole that lets retailers charge more for card use

he commerce ministry is to draw up legislation to close a loophole in the law that allows vendors to charge extra to consumers using credit cards.

The legislation will allow consumers to file a complaint with the consumer protection service and close a contradiction in the law,

Businesses argue that their profit margin on smaller items is low and eaten up by the charges they incur by accepting cards as opposed to cash.

The law that mandates all retailers to accept cards was passed last February. However, since then some businesses have been taking advantage of loopholes to impose the extra charges, Phileleftheros reported.

They argue that the interpretation of the law did not in fact prohibit them from adding on a surcharge when accepting cards.

The law states that in the event a card is used the buyer must be informed about extra charges before the seller initiates the transaction. At the same time, in another section, the law states that “the beneficiary is not allowed to request charges for the use of a specific means of payment”.

FULL STORY HERE:-https://cyprus-mail.com/2023/02/20/end-of-legal-loophole-that-lets-retailers-charge-more-for-card-use/

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Dave
Moira And Dave

“I know that you believe you understand what you think I said, but I'm not sure you realize that what you heard is not what I meant.”

More mothering and control by the state.

A retailer should be allowed to charge as he wants and in the manner he wants.

If a buyer doesnt like it then switch retailer.

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Straight talking, no Gimmicks.

Live your dreams.

I agree tanny there is far too much regulation over many things which dont need it ! I guess the next law will be to regulation the markup from the price paid from the distributer and maybe insisting retailers can only purchase through the distributer/ importer network. Still i guess they believe the general public is too stupid too make informed decisions. The smart 15minute city concept is already restricting your choice. We are slidding down the slippery slope , gathering momentum too

I'm fairly sure that EU law prevents retailers from adding a surcharge to card payments.

Given that banks charge retailers for depositing cash, it does seem unfair to charge customers for paying by the easier method.

Yes, retailers should be free to charge the price that they want, but they should charge the same for everyone - not one price for one section of society and another for the rest. A bit like buying a car!

Effsie, they should be able to charge whatever they want.

An advertised price for a product, be it a ham sandwich or a rolls royce is merely a price around which negotiations can commence for the proposed purchase. If a retailer is having a fixed price then it should state clearly on the advert that the price for that item is a fixed or non negotiable price.

If a retailer want to negotiate a different deal with each customer then he can do so and the fact that by state and EU/banking system intervention he is forced to slowly remove cash and accept higher card processing fees is simply a way of ensuring the ethos of agenda 2030 at a storefront level.

Soon retailers will be limited in the items they are permitted to sell, small retailers will disappear and only the biggest given incentive to thrive.

Furthermore is a retailer wishes he can entirely refuse card payments, but is being coerced into acceptance. In any other sphere this would be stopped.

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Straight talking, no Gimmicks.

Live your dreams.

The government here passed a law last February (see the CM story above) that obliges shops to accept card payments. From that if a retailer refuses to accept card payments then he is breaking the law and presumably unable to trade.

These laws are for the benefit of the customer so surely we should be applauding them.

Maybe the customer benefits - but not the retailers, especially the smaller ones which will feel the effect more of the card charges than larger enterprises. Bigger is not necessarily better and as time goes on there is less freedom of choice.

Reminds me of the farming community in the UK in the 1960s when changes were imposed to dairy farmers which made it financially unviable for the smaller family run units to survive. In the village where I used to live most of the income/employment was generated by these small dairy farms - there haven't been any for several years and now most of the homes are second homes that are empty most of the time!

Well for Small businesses with small turnover who tend to run a cash system , cash in cash out , which is a simple system with low 3rd party/ middleman charges , messing about with cheques and cards for the merchant is more complicated and more costly , there is rent for a card machine , paying a percentage to a middle man ( a card company ) a delay in the receipt of funds by the bank and increased time spent sorting paperwork and increased costs to the accountant . So Effsie you are right ! Easier for the consumer but more work and cost for the retailer. Problem with the cash system is those that steer world economic policy have little control over you ! Their policies rely on total knowledge and control of your life !

Indeed yes, Mouse last issue relates to the real issue. It is a personal choice to buy or sell and how payment is made. However with the forced use of cards, cash will (as is designed) disappear and you will have voluntarily welcomed in the full working process of the programable CBDC meaning you will be fully controlled not only as a retail customer but in every and every other aspect of your life. Good bye to any of the freedoms that your fathers and grandfathers thought they were fighting for in previous wars.

To NOT look at the evidence that is placed in front of you is financial suicide.

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Straight talking, no Gimmicks.

Live your dreams.

I guess I must be the only person on this site who isn't a conspiracy theorist. Ah well.

Good for you Effsie, I hope your little bubble doesnt burst.

The previously cried Conspiracies have by and large all now become facts. The main trumpets for shytvid, lockdown, etc etc are now all being exposed and even denying.

I chose to acknowledge facts taken from other places than the BBC.

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Straight talking, no Gimmicks.

Live your dreams.

How is it conspiracy theories when some of it is becoming fact ! Still maybe its just my point of view . I guess it depends what you expect from society as to how suitable you think it is . I personally see lockdown as a global test case, governments have actual proof of what control they have over us . The government said that for 2 years there was no flu but this winter it has come back ? A clear indication they believe us to be stupid and that we will swallow any dumb fairy store they tell us , they believe that have that degree of control , but never mind what i say its just conspiracy theory!

Mouse to many ex pats and people on here they wont be affected given many are retired and simply want to wile the years away in bliss. Its the children and grandchildren that will suffer.

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Straight talking, no Gimmicks.

Live your dreams.

Well Tanny i reach retirement age in 5 years and i woild like to have a small house on an agricutural / forest plot and go hide in the forest for the rest of my natural .but yes its our kids and grankids that will see the full force of the changes.

In our business we take cards. Happy to. The percentage we pay JCC is minuscule (just over 1%) and it means we are guaranteed payment the following day. Enables customers who might not otherwise be able to buy our product to do so. They (the customer) get guarantees by way of using a c/c, as do we the retailer. Never once, in 15 years, had a dispute or an issue while accepting c/c via. JCC.

Win-win all round.