THE Forum of Private Business is calling for a European Union ruling forcing credit card companies to slash retailers' rates to be implemented in the UK.
The ruling affects cross-border transactions in eight EU countries - Ireland, Italy, Belgium, the Czech Republic, Latvia, Luxembourg, Malta and Greece - all of which tailor their rates to Mastercard's international rate.
UK's retailers are not affected, but the Office of Fair Trading (OFT) is investigating credit and debit card fees. The FPB is urging the OFT to follow the EU's ruling.
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