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Barclays fined $10 mln over lack of card fees transparency

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Barclays fined $10 mln over lack of card fees transparency
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LONDON, Dec 1 (Reuters) - Britain's Payment Systems Regulator (PSR) has fined Britain's Barclays bank 8.4 million pounds ($10.2 million) for failing to give retailers full information about card costs, the watchdog said on Thursday.


"It's vital that retailers and consumers get value for money on payment services – the interchange fee rules are an important part of making sure this happens," PSR Managing Director Chris Hemsley said in a statement.

"Barclays’ failure to be transparent with retailers about the fees they pay for card services meant retailers could have been missing out on better deals." ($1 = 0.8234 pounds) (Reporting by Huw Jones Editing by David Goodman )

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