Johannesburg - A new fee structure for transaction fees retailers pay their acquiring banks is coming, reported Supermarket.co.za on Monday.
This is thanks for efforts by the SA Reserve Bank (Sarb) and the SA Retailer Payment Information Forum.
It will depend on individual banks when and by how much the transaction fees will drop.
It is estimated that about 90% of issued cheque cards will be re-categorised as debit cards. This means they will attract the new lower debit card transaction fee.
This is thanks for efforts by the SA Reserve Bank (Sarb) and the SA Retailer Payment Information Forum.
It will depend on individual banks when and by how much the transaction fees will drop.
It is estimated that about 90% of issued cheque cards will be re-categorised as debit cards. This means they will attract the new lower debit card transaction fee.