Fees for card transactions likely to be capped

Chisinau, June 22 / MOLDPRES /- Fees paid by small and medium-sized businesses for card transactions could be capped. An initiative to amend the legislation in this regard was examined today by the parliamentary committee on economy, budget and finance.

The project was worked out by members of the Action and Solidarity Party parliamentary faction, Dumitru Alaiba, Dan Perciun and Victor Spinu and provides that commercial banks will not be able to charge micro, small and medium-sized companies commissions higher than 0.5% of the value of an operation payment card made, regardless of the type of card.

According to the authors, the proposed legislative amendment will help increase the volume of bank card payments, combat the underground economy and tax evasion.

In 2015, the European Parliament capped interchange fees for card payments for all businesses: 0.2% - for debit cards and 0.3% - for credit cards. The capping has significantly reduced the costs borne by euro area businesses.

Photo: Parliament