Hatzidakis: Government will pass legislation halving commission paid for POS transactions

The national economy and finance ministry will table legislation within the next two weeks that will halve the fees for POS transactions, National Economy and Finance Minister Kostis Hatzidakis said in an interview on Tuesday with SKAI TV.

He noted that the objections voiced by the self-employed and small businesses in various sectors, from taxi drivers to kiosk owners, were fair, as they were charged a 1% commission for all transactions, even those under 10 euros.

Hatzidakis said that these commissions would be halved as there was a lack of agreement between the parties charging these transaction fees (banks, providers and payment schemes), with banks being the most open to a reduction in fees during the discussion that was held.

Based on the above, Hatzidakis said that the governmment will proceed to legislate a solution to the problem so that the discussions do not drag on.