The commission charged for ‘small retail’ transactions via POS terminals is to be halved by an amendment added to the draft bill by the national economy and finance ministry.
The highest clearance commission for transactions of up to 10 euros will not exceed 0.5% of the transaction under the bill, which is being debated in Parliament on Tuesday.
Another amendment also resolves issues on how business people with a low credit rating can acquire a POS.
Finance Minister Kostis Hatzidakis said the measure sought to redress an injustice against small retailers and the costs incurred through a mandatory use of POS machines and credit cards, protecting them from oversize fees and charges.
The bill also sets an upper limit of 0.1% for bank commissions for debit and prepaid cards, of 0.15% for credit cards, and an upper limit of 0.1% for the charges of a payment services provider by international card organizations.
The types of businesses that benefit include groceries and mini-markets, kiosks and sellers of newspapers, books and magazines, tobacco stores, bakeries, taxis and other small-scale retail sectors.
It does not apply in the case of societe anonyme companies or those with more than three POS terminals from the same payment services providers.
