An EU rulling has left credit card companies with the message to cut card fees charged to retailers. Currently these fees amount to an equivalent of £40 per household per year in the UK and the Office of Fair Trading and leading retailers have described them as an 'unfair tax'.
The ruling applies to charges on consumers travelling between EU countries, but should set a legal precendent for consumers within their own countries. Top retailers have promised to pass on savings made to consumers.
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