Owner of the ATM ensures that changes the cards do not penalize consumers – publico

 
         

                 

                         
                     

                 

 
 

Sibs, owner of the ATM, assured on Tuesday that changes in payment terminals do not bring more costs to consumers and do not imply payment on credit purchases.

Since 6 June that the payment terminals now include the option of choice as the brand that the customer intends to use to pay. But the change imposed by European legislation, is leaving consumers confused. In addition to the code, it becomes necessary to indicate that the card is Visa, MasterCard, American Express or ATM (in Portugal the term “ATM” is used to generally designate debit cards, but this is just one of the brands payment). In the case of cards that are simultaneously credit and debit (so-called hybrids, minor in Portugal), you must also choose what form of payment.

In a statement, Sibs clarifies that accordance with the regulations of the European Union, published in April 2015 end, the credit payment can only be “made if the customer uses a card with this mode to perform the operation.” That is, if the card is debit, the transaction is made to flow, “being the only consumer choose to purchase through the brand.” “The option given to the consumer is therefore not between the operation be carried out debit or credit, but between the ATM or another international brand. That selection has no implications for the customer, “continues the company.

Also a note that did reach out to customers, the Caixa Geral de Depósitos explains that” payments made by debit card are debited from the account order and payments made by credit card are debited from the card account. ” “Whichever network you choose, does not alter the mode of operation of the cards,” indicates the public bank.

For merchants, the changes do not bring immediate impact, but there are risks of increased costs . “Not all terminals can have this option and some will have to be replaced. We hope that the banks did not use this to raise prices, “said Publico João Vieira Lopes, president of the Confederation of Trade and Services of Portugal (CCP). Another risk has to do with the choice of customers who have hybrid cards: if, when they are faced with the option of choice, choose to pay the credit, the trader will have to pay higher rates (for debt purchases to rate maximum payable in the European Union on the value of the transaction is 0.2%, in the case of credit is 0.3%).

“Does the need to make the choice in each transaction, the consumer will choose more often for credit? Only experience will demonstrate the. If this happens is worse for traders because they will have to pay more taxes, “explains João Vieira Lopes, arguing that the bank should have given more explanation of this change.

The intention of the European regulation is to promote transparency and competition in the European card market by standardizing requirements across Europe. In Portugal, there is agreement between the banks for the use of cards in all automatic terminals and automatic teller machines, which does not happen in other countries. The new rules from Brussels included defining for the first time, the limits to the fees charged to merchants for the use of bank cards (called interchange fees ).