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Mastercard to raise EU fees by at least 400% for online sales to UK shoppers

Change from October could lead to higher prices for those paying with UK-issued cards

Mastercard is to increase the fees it charges EU firms to take payments from online shoppers from the UK by at least 400%, in a move that could mean higher prices for consumers.

The company charges 0.3% to process credit card payments and 0.2% to handle debit card payments but it has told EU firms that these will increase to 1.5% and 1.15% respectively from 15 October.

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