Buying a House on Credit: The Experiences of a Starter


Dutch retailers are somewhat apprehensive about new developments in the payment market. They are particularly worried that the payment traffic costs will rise from 2018 onwards, because then service providers – for the retailer – will introduce more expensive new payment options. These new payment options are considerably more expensive than pins at the cash register.

We draw that from the mouth of Michel van Bommel. He is secretary of Detailhandel Nederland.


New European payment directive is costly


The new European payment directive that retailers are afraid of and that will be introduced in 2018 is the Payment Service Directive 2. Abbreviated with PSD2 . Thanks to this new directive, all kinds of new payment services (usually aimed at credit card payments) can be set up. But it is precisely the credit card payments that shoppers annoy themselves green and yellow.

Because in order to be able to provide such services, they have to meet strict requirements and they also pay fees that are unnecessary. For a credit card payment that a customer makes in the store, retailers sometimes have to cede up to a few percent on that spending amount.


20 times more expensive

The compensation they have to pay for a credit card payment is approximately twenty times higher than payments for debit card payments.


Credit card payments will become more normal in the future


Retailers fear for credit card advance by new service provider


Even though consumers in the Netherlands still pay very little with credit cards, compared to other countries, retailers are worried that the number of payments with credit cards will increase significantly in the future. And with that automatically their costs. Large organizations such as PayPal, Google, Apple and even Playstation and Facebook invest in credit card payments. They use old payment methods and put them in a new jacket.

Shopkeepers are worried that in the long run this type of payment will take off because of the rollout of PSD2. Then the costs for the consumer and the retailers increase enormously.


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