ARE YOU CURRENTLY TAKING CARD PAYMENTS AND ARE IN A CONTRACT ? OR BELIEVE YOU ARE

• New rules could help businesses switch and save thousands of pounds a year??

• Providers will be more transparent and remind businesses when their contracts are due to expire

• Contracts for card readers will no longer operate for more than 18 months?

The PSR wanted to make sure that businesses were getting value for money on card services

. It carried out a market review which found that these services weren’t working well for businesses with annual turnover below ￡50 million.

Some of the reasons for this include finding it difficult to compare prices and services, and being locked into lengthy contracts for card readers.?

In January this year, the PSR consulted on a package of remedies to help businesses, and therefore also consumers, get the best deal possible; the PSR published a provisional decision on these remedies in June.??

The regulator is giving Specific Directions to 14 of the most significant providers of card-acquiring services to make sure businesses are protected and get the best services available by shopping around or negotiating, potentially saving them up to ï¿¡5,400 per year in fees.1?The Directions will make sure these firms

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• Provide trigger messages to businesses reminding them at the end of their contract term that they could get a better deal if they shopped around.?

• Provide summary information boxes of the card fees businesses are charged and provide an initial online quotation tool of key charges to help them make informed choices.

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• Allow businesses to switch card acquiring providers easily by requiring that Point of Sale (POS) terminal contracts do not run for more than 18 months.?

Kate Fitzgerald, Interim Head of Policy at the PSR, said:?

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“Card-acquiring services play a crucial role in the payments sector – from the businesses that use them to accept payments, to the consumers using them to pay – so it’s important they work well for everyone.??

“We believe that businesses could be saving up to thousands of pounds a year if it was simpler for them to compare prices and switch providers. The steps we’re taking today will make it easier for the 1.5 million small and medium sized businesses in the UK to do this. This will benefit both them and their customers.”??

SO WHAT DOES THIS MEAN FOR ME ?

Get in touch with me and i will personally review your circumstances. Dojo can cover exit fees in most cases, but let's not get ahead of ourselves, let's analyze your statement carefully. I can provide a quote and a comparison within a few hours. we shall go through this together so everything is crystal clear.

In addition to our transparent quotes and fees, we won't lock you into an 18-month contract, and our contracts start at just 30 days, so you can leave when you're ready.

Before you go away and think, let us set up a 30 DAY FREE TRIAL . All our quotes are easy to understand.

Be ahead of the game and protect your business during these tough times.?

Carl- 07786235819 or carl.daniel@dojo.co.uk