In a letter sent to affected retailers, Worldpay said: “Visa and Mastercard have announced they will no longer treat the UK as a part of the European Economic Area for interchange purposes.”
The changes for store owners mean the rates for Visa debit personal payments increase from 0.264% to 0.273%, with Visa credit personal rising from 0.623% to 0.679%.
Mastercard debit personal rates will rise from 0.252% to 0.257%, while Mastercard credit personal will change from 0.616% to 0.618%.
However, rates for Visa business transactions will decrease from 1.754% to 1.735%. Mastercard business rates will also drop from 1.754% to 1.719%.
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