LONDON—Visa and Mastercard have been accused of cashing in during the coronavirus crisis by charging "excessive fees” in this country.
The British Retail Consortium is alleging the fees charged by the payment firms have almost doubled in the last two years.
“They warn that retailers will be forced to pass on the extra costs to consumers, with credit card bills rising by another £40 a year. However, Mastercard questioned the BRC's findings and said shops were paying less than five years ago,” the BBC stated.