Card fees halved in new deal

A deal that will lead to credit card charges being halved for many shops has been signed by retail trade organisation Svensk Handel and Nordea Bank.

The deal, which will apply to all Svensk Handel’s members, will cover all cards used in Sweden. Payment with a debit card issued in Sweden, the rest of the EU or Norway will cost retailers 99 öre per purchase.

For credit or charge cards the fee will be 99 öre plus 1.52 percent of the total transaction. Payment with other foreign cards will be 99 öre plus 2.05 percent.

The deal does not cover American Express or Diners.

Svensk Handel and Nordea say they hope the deal will lead to fewer cash payments and that the number of robberies of shops and cash transport vehicles will fall.

TT/The Local