Friday, June 10, 2005

Possible agreement between banks and retailers on payment fees

Trouw reports that retailers are willing to drop their litigations with respect to banks (claiming that the fees for pin-authorisation services were too high). The move will be part of a set of agreements in which:
- the fee for pinauthorisations will be lowered considerably,
- parties agree to work together towards more efficient payments in the Netherlands by stimulating their clients.

Given that some conceivable forms of client stimulation may be arousing and effective, but legally forbidden, the 'stimulating' here can only be interpreted as: campaigns and fees. But before we get there the agreement is yet to be reached (and most likely also involves an endorsement of regulators...).