[mcintyre1994]

> "As a result of the UK leaving the EEA, Mastercard will adapt interchange rates on UK cards to the commitments it gave the European Commission in 2019 for non-EEA card transactions," the company said.

They are regulated, they're just allowed to charge more for EEA to non-EEA than they are EEA to EEA.

[bArray]

Right, but the UK is empowered to apply its own regulation.

[mcintyre1994]

Surely the UK can only regulate Mastercard's fees to businesses within the UK? I guess they could ban UK consumers from buying from stores outside the UK that use Mastercard, maybe? Other than threatening to do that, how can they regulate what Mastercard charge businesses outside the UK?

[me_me_me]

So in the end UK lost even more control, the farce continues

[bArray]

Last time I checked, 0.3% is much better than 0%.

Also it's not as if there aren't alternative payment processors.

[mcintyre1994]

I agree, Mastercard would rather have 0.3% fees on UK purchases from EU businesses than have the UK government enact such a ban. I just don't think the UK government would do that though. It'd be really hard to police too, do users even know the internal payment processor used by a store? It's probably labelled for marketing/trust but I doubt there's that much notice paid to it.