Trade Associations Unite to Combat Rising Costs of Card Payments

  • BIRA joins forces with BRC, ACS, FSB, and UKHospitality to call for government intervention
  • Card payment fees add to the price of goods and services
  • Anti-competitive practices in card payments impact businesses and consumers

The British Independent Retailers Association (BIRA) has joined forces with the British Retail Consortium (BRC), Association of Convenience Stores (ACS), Federation of Small Businesses (FSB), and UKHospitality to call for government intervention in addressing anti-competitive practices in card payments. These practices are adding to the price of goods and services, affecting both businesses and consumers. The associations argue that immediate action must be taken to protect against these rising costs.

Factuality Level: 8
Factuality Justification: The article is factual and informative, providing information about BIRA’s appeal to parliament to address anti-competitive practices in card payments. It does not contain digressions or irrelevant details, nor does it present personal opinions as facts. The reporting is accurate and objective without exaggeration or sensationalism.
Noise Level: 7
Noise Justification: The article is relevant and informative as it reports on a specific issue related to British businesses and consumers. However, it lacks depth and analysis, and does not provide actionable insights or new knowledge for the reader.
Financial Relevance: Yes
Financial Markets Impacted: The financial markets impacted by this issue are related to the payment processing industry, specifically the fees and charges associated with card transactions.
Financial Rating Justification: This article discusses the potential intervention of parliament in addressing anti-competitive practices in card payments, which can affect businesses’ costs and consumer prices. This has implications for financial markets as it could lead to changes in the payment processing industry and impact companies that rely on card transactions.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.retailsector.co.uk