Barclays fined £8.4m over card payment information failures 

Mark Battersby
clock • 1 min read

The UK's Payment Systems Regulator has fined Barclays Bank £10m for failing to supply retailers with full information about the fees attached to different card services. The watchdog found that Barclays, the UK's biggest card acquirer, did not provide retailers with transaction information required under the Interchange Fee Regulation (IFR). Barclays' lack of transparency meant retailers weren't fully aware of the fees they were paying so could not effectively compare prices of card services, shop around to find cheaper deals, or negotiate the best deal with Barclays.   Chris Hemsl...

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