From Rob Hay
Your mainly very good article on “soft” cash contained the statement that “credit card companies charge a minimum fee for each transaction” (23 July, p 40).
As the head of pricing for Barclaycard Business, which processes approximately a third of all card transactions in the UK, I can confirm that we do not impose a minimum transaction charge on any of our customers. In particular, the charge for processing credit card transactions is routinely calculated as a simple percentage of the transaction value, meaning a given business will be charged the same for taking a thousand £1 transactions as for taking a single £1000 transaction. This therefore makes credit cards an ideal mechanism for making and taking small-value payments.
Northampton, UK
