Central Bank Urged To Remove Charges To Encourage Card Payments

The Central Bank has been urged to clamp down on all card transaction charges on contactless and chip-and-pin payments in an attempt to encourage non-cash transactions in the time ahead.

Making the call, Sinn Féin spokesperson on Finance Pearse Doherty wrote to the Governor of the Central Bank to request a suite of measures to be offered customers that may be affected through sickness or job loss by the Coronavirus.

Deputy Doherty said: "The announcements made by government today are welcome and necessary, and it is essential that all is done to ensure the measures taken today are effective.

"While schools, colleges and childcare facilities will close, shops, restaurants and other services will remain open and it is essential that support is given to businesses and consumers during this time.

"While we continue to shop as normal, it is prudent that measures are taken to encourage card rather can cash transactions. This is in the interests of consumers, sales assistants and shop-floor workers.

"For that reason, I wrote to the Central Bank on Tuesday to request an immediate ban of all card transactions charges on contactless and chip-and-pin payments in the time ahead.

"It should be noted that in a time of uncertainty for workers and families, AIB have chosen to introduce card transaction charges that could cost consumers up to €80 a year, as well as discouraging card transactions. That is not good.

"While introducing the measures I have proposed would be a small measure, the success of our collective response will be achieved by small margins.

"Sinn Féin look forward to the response of the Governor of the Central Bank."


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