This is a trade facing website. Visit the ACT's consumer site thecyclingexperts.co.uk for information and advice on cycling and find your local independent cycle retailer.

Search News

Results: 201-210 of 885


24 Jul 2023

Cycling Electric has run an interesting article on the value of buying an e-bike from a local independent bike shop.

11 Jul 2023

Charity Cycling UK has launched The Big Bike Revival 2023 to support new and returning cyclists through a programme of free events.

11 Jul 2023

A survey undertaken by ACT members The Electric Bike Shop has shown that specialist bike retailers are continuing to see the benefit of having physical high street stores over a pure ecommerce...

11 Jul 2023

Giant UK has partnered with Activate Cycle Academy and the Association of Cycle Traders (ACT) to provide a Cytech technical e-Bike qualification.

11 Jul 2023

As of 30th June 2023, the registered Head Office for V12 has relocated, and as a result their registered office address has changed.

3 Jul 2023

Cytech, the internationally recognised training and accreditation scheme for bicycle technicians, has announced that Whistler Adventure School (WAS), a private career training institution in...

29 Jun 2023

With this Saturday and Sunday marking Independents’ Day weekend, the culmination of the annual campaign to promote independent retailers around the UK, ACT member Elmy Cycles in Ipswich...

29 Jun 2023

The new Consumer Duty comes into force on 31 July 2023 for new and existing products and services. The aim is to set higher and clearer standards of consumer protection and to require firms to...

29 Jun 2023

Bicycle sales slowed sharply in Europe in 2022 after strong growth during the pandemic. But whilst traditional bicycles were less in demand electric bikes continued their explosion, the European...

29 Jun 2023

gogeta says it is set to shake up the Cycle to Work Scheme industry by offering partner bike shops the lowest commission fees in the industry at 4%, with an introductory offer of 3% until 31st...

Back to news menu

Business bodies slam “startling rise in the cost of accepting cards” for small businesses

Posted on in Business News , Cycles News

A lobby group has warned of the “startling rise in the cost of accepting cards” for small businesses after the European chief of Mastercard defended the fees it levies on merchants.

Blue Mastercard



Interchange fees, which are charged to merchants and paid to the card issuing bank and payment network, have climbed sharply in recent years, and squeezed merchants.

The price hikes have incurred the anger of business organisations who have argued it amounts to a tax on card payments.

The British Retail Consortium, Federation of Small Businesses, and lobby group Coadec were among groups to launch an ‘Axe the Card Tax’ campaign last year calling for regulators to step into the market in the UK and reduce fees.

However the European president of Mastercard, Mark Barnett, has defended the current fee structure.
“We believe interchange is the right mechanism for everybody, sharing the costs and benefits of the payment system,” he told the Financial Times. “We think it represents incredibly good value.”

The comments have come under fire from start-up lobby group Coadec however, which has previously slammed the ‘stealth card tax’ and the monopoly of Visa and Mastercard. The group’s analysis suggests that card processing fees have risen 600 per cent over the past eight years.
“Coadec is part of the Axe the Card Tax campaign because of the startling rise in the cost of accepting cards,” Luke Kosky, fintech policy lead at Coadec told City A.M.

“Interchange fees themselves represent great value for the banks – that is their purpose. But the Government has not yet worked out if the current cap levels are right for the UK where 90 per cent of retail sales are on cards. Such a review is only possible post-Brexit.”

The Payment Systems Regulator is currently conducting a market review of the fees paid to card payment networks, with which Mastercard is co-operating.

Coadec called for alternative ways of paying to be explored to take the pressure off retailers via alternatives like “open banking payments, or vital staples like cash.”

You could keep more of your profits with our payment partner, Tyl by NatWest.

Did you know 8 out of 10* businesses saved money on fees when switching to Tyl by NatWest.

Plus, you’ll receive a £120 sign up bonus* by way of a Tyl statement credit when you sign up to Tyl as your payment partner.

CLICK HERE For more information.

Tyl logo

 *Saving figure based on customers switching from various providers to Tyl between Jan and Sept 2022. Average savings not inclusive of introductory offers.

Back to news menu

Useful links

If you have any other queries please contact us.