EuroCommerce and the chief executives of 14 top EU retailers have requested the European Commission to end the charging of fees by credit card firms for each transaction performed by retailers.

The action is a follow-up to two important decisions taken by the commission against credit card operators who charge additional fees to consumers, which charges have been found to be in breach of competition and consumer protection legislation.

EuroCommerce is the European association representing the retail, wholesale and international trade sectors and is acting on behalf of its member organisations, including GRTU, Chamber of Small and Medium Enterprises.

EuroCommerce contends that the billions of euros being charged by credit card firms on retailers across Europe is unacceptable. The Commission is currently examining the legality of so called interchange fees which are charged to retailers on every retail transaction using a credit card.

In Malta the GRTU has been complaining with the banks for a long time on these charges. The financial regulator and the Ministry of Finance, the GRTU said, argue that these charges are abusive and are an unnecessary burden on the profitability of retail outlets in a competitive market and are an extra burden on consumers.

The GRTU is insisting with the Ministry of Finance and with the National Euro Changeover Committee not to sustain the credit card firms’ campaign to extend the use of credit cards in retailing until the European Commission decides on this issue.