The introduction of SEPA on 28 January has created a number of business opportunities which led HSBC to lower its tariffs across the board. These revised tariffs have been specifically designed with Retailers in mind. Businesses can also now fully reap the benefits of a common currency making their life much easier.

This is especially true for merchants using electronic point of sale to accept customers debit and credit card payments. Lower overall merchant service charges will create more value for businesses and consumers. Since HSBC’s new tariff is based on volumes, merchants can further reduce their costs by accepting more cards across HSBC’s terminals.

Retailers will be left with more cash in hand either to pass on to consumers or to reinvest in their business. In addition, EPOS terminal transactions are more secure as no cash is handled

From now on, any debit or credit cards issued by other banks within the SEPA zone and swiped on an HSBC EPOS will attract a standard charge based on HSBC’s revised and transparent tariff. Standard tariffs on cards issued by HSBC have also been reduced.

Each and every retailer using an HSBC EPOS terminal is being contacted by an HSBC official in order to have the new tariff explained on an individual basis.