Small businesses complain about new credit card rules

 Small businesses complain at new credit card rules

Small retailers could be forced to put up their prices because of a ban on charging for payments made on credit and debit cards, the Federation of Small Businesses has warned. Although many of its members absorb the costs, those that don’t could be forced to recoup the expense after today"s ban comes into effect, the FSB said. However, the change could spur them to find cheaper ways for their customers to pay. "The most optimistic outlook is that businesses will have to shoulder a higher cost in the short term, but that will drive more innovation and new kinds of payments that allow them to reduce costs," said Lorence Nye, policy adviser at the FSB.

Source:   Daily Mirror (13/01/2018)