Your Input Please New rules for payments by credit and debit cards

souldragon

Senior Member
Joined
Oct 17, 2012
Location
Kent,United Kingdom
Interesting announcement that has just been made that as from January next year,companies will not be allowed to impose a surcharge on card payments.Does this mean that online casinos will no longer be able to charge for deposits made in this way.
 

goatwack

Get dunked, big buns!
Joined
Aug 29, 2012
Location
Londonia
Expect slots to be 15% more rigged about January time :mad:

Only kidding :cool:




more like 25%
 

DreamRJ

Out of this world!
MM
Joined
Jun 6, 2013
Location
RJVille UK
Interesting announcement that has just been made that as from January next year,companies will not be allowed to impose a surcharge on card payments.Does this mean that online casinos will no longer be able to charge for deposits made in this way.

Duplicate & Similar thread to one that has already been posted: https://www.casinomeister.com/forums/threads/80052/

But my 2 cents is yes and all it will mean is the casinos will just find or add their own charge instead to cover it. As will all other industries.
 

colinsunderland

Experienced Member
webmeister
MM
Joined
Jan 28, 2016
Location
uk
Another stupid rule made by the government.

Nobody likes fees, but if a business wants to get the fee back they will increase prices. downside is, if you currently pay 50p per transaction, and they add 5p to every item then if you buy 11 things you are out of pocket.

Having said that I don't believe the casinos that charge are charging at cost, its another form of revenue.

I don't mind charges, well reasonable charges, depending on the transaction size. I used to charge 50p on anything under £5. That was my cost for a debit card transaction, we used to sell a lot of 99p items which would cost us around 66p. If we sold one to a customer using a debit card, we would be 17p out of pocket if we didn't charge.

The rules are, surcharging is allowed only to the extent of passing on the cost of processing the payment i.e. it is not permissible to gain additional profit through surcharging.

I refuse to play at any casino that charges 2.5%, which seems to be more and more. If they are being charged 2.5% for debit card transactions then they should look at a new provider. Worldpay as an example only charge 0.75% (and you can get discounts if you do a lot of transactions), Barclays are around 1.75%.
 

mac72

Threatening behaviour - PITA
Joined
Oct 13, 2014
Location
n ireland
Another stupid rule made by the government.

Nobody likes fees, but if a business wants to get the fee back they will increase prices. downside is, if you currently pay 50p per transaction, and they add 5p to every item then if you buy 11 things you are out of pocket.

Having said that I don't believe the casinos that charge are charging at cost, its another form of revenue.

I don't mind charges, well reasonable charges, depending on the transaction size. I used to charge 50p on anything under £5. That was my cost for a debit card transaction, we used to sell a lot of 99p items which would cost us around 66p. If we sold one to a customer using a debit card, we would be 17p out of pocket if we didn't charge.

The rules are, surcharging is allowed only to the extent of passing on the cost of processing the payment i.e. it is not permissible to gain additional profit through surcharging.

I refuse to play at any casino that charges 2.5%, which seems to be more and more. If they are being charged 2.5% for debit card transactions then they should look at a new provider. Worldpay as an example only charge 0.75% (and you can get discounts if you do a lot of transactions), Barclays are around 1.75%.

For DEBIT cards it is just a flat fee they get charged not a percentage.Should be around 12-17p per transaction whether that transaction is £50 or £25000
 

colinsunderland

Experienced Member
webmeister
MM
Joined
Jan 28, 2016
Location
uk
For DEBIT cards it is just a flat fee they get charged not a percentage.Should be around 12-17p per transaction whether that transaction is £50 or £25000

That depends on the processor doesn't it?
As I say i used to pay 50p per debit card transaction but I was offered percentage deals at the time, and I'm sure worldpay charge a percentage.

EDIT: Yes 0.75% on debit cards (my first post was going from memory)

You do not have permission to view link Log in or register now.
 

mac72

Threatening behaviour - PITA
Joined
Oct 13, 2014
Location
n ireland
That depends on the processor doesn't it?
As I say i used to pay 50p per debit card transaction but I was offered percentage deals at the time, and I'm sure worldpay charge a percentage.

EDIT: Yes 0.75% on debit cards (my first post was going from memory)

You do not have permission to view link Log in or register now.

Depends what processor and volume you do yes, the small corner shop will pay more but in regards to world pay they do a flat rate (by negotiation) on debit cards and as I said you should be able to take a payment of any amount for something in the 12-17p range which is why I never looked favourably on any casino trying to charge 2.5% on debit card transactions. Credit cards are a completely different matter.
 

colinsunderland

Experienced Member
webmeister
MM
Joined
Jan 28, 2016
Location
uk
Depends what processor and volume you do yes, the small corner shop will pay more but in regards to world pay they do a flat rate (by negotiation) on debit cards and as I said you should be able to take a payment of any amount for something in the 12-17p range which is why I never looked favourably on any casino trying to charge 2.5% on debit card transactions. Credit cards are a completely different matter.

Completely agree, if I had a deal where I only paid 50p a transaction, then I am 100% sure a casino will not be paying more than that, and probably around what you state. For that reason I won't pay to deposit, as any casino who can't afford to absorb a (say) 20p debit card charge doesn't deserve my money.
MrGreen started charging, I was depositing between £500 and £1000 at one point with them, I think they have had probably £200 from me in last 6 months, of which most was by Skrill. Their loss not mine.
 

mac72

Threatening behaviour - PITA
Joined
Oct 13, 2014
Location
n ireland
Completely agree, if I had a deal where I only paid 50p a transaction, then I am 100% sure a casino will not be paying more than that, and probably around what you state. For that reason I won't pay to deposit, as any casino who can't afford to absorb a (say) 20p debit card charge doesn't deserve my money.
MrGreen started charging, I was depositing between £500 and £1000 at one point with them, I think they have had probably £200 from me in last 6 months, of which most was by Skrill. Their loss not mine.

I think what they are trying to do is amortize the potential other costs of taking debit/credit card transactions in the 2.5% fee (chargebacks/fraud etc) as the transaction charges they pay on ewallet transactions are considerably higher than cards and yet there are no deposit/withdrawal fees but there also are no chargeback issues for them.
 

souldragon

Senior Member
Joined
Oct 17, 2012
Location
Kent,United Kingdom
Duplicate & Similar thread to one that has already been posted: https://www.casinomeister.com/forums/threads/80052/

But my 2 cents is yes and all it will mean is the casinos will just find or add their own charge instead to cover it. As will all other industries.

Apologies if this issue has already been covered in another thread.I did do a quick search of the database before posting but couldn't find anything.
 
Top