Swiss price watchdog negotiates lower fees for card payments
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Swiss price watchdog negotiates lower fees for card payments
Small businesses in Switzerland will have to pay smaller fees for cashless payments from customers over the next few years. The price watchdog has concluded a new agreement with the relevant service provider.
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According to the price watchdog’s estimates, this will lead to annual savings of CHF10-15 million ($12.5-18.5 million) for Swiss retailers, as stated in the newsletter published on Tuesday. Shops such as bakeries, kiosks and restaurants would benefit in particular.
In Switzerland, the financial institution Worldline is the dominant payment processor. It handles the processing and transmission of transactions and credits the corresponding amount to the merchant’s account. Worldline charges a fee for these services.
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In the past, the price watchdog had already reached amicable agreements with the company for lower fees. The last one expired at the end of 2024. A new agreement has now been concluded that is valid until September 30, 2027.
According to the price watchdog, the aim was to reduce the fees for small-value transactions, which are mainly incurred in small shops such as kiosks, bakeries and small grocery shops. This has been achieved with the new agreement.
In the previous summer session, parliament had called for more transparency regarding cashless fees. The government now has the task of creating a legal basis. Small businesses that accept cashless payments should be given clarity for price negotiations and when choosing offers.
Translated from German by DeepL/ts
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