Meal and eco-voucher payments cost merchants significantly more than Bancontact, study finds
Processing payments with electronic meal and eco-vouchers costs Belgian merchants significantly more than standard electronic payments, according to a study published on Thursday by the Price Observatory of the Federal Public Service (FPS) Economy.
Electronic payments have become the dominant payment method in Belgium, both in shops and online. While customers generally pay no additional fees, merchants must cover a range of costs charged by payment processors, card schemes and banks.
According to the study, merchants spend between 0.2 and 0.9 per cent of their monthly turnover on electronic payment costs, depending on factors such as transaction volume, payment method and whether purchases are made online or in-store.
Voucher payments carry highest fees
Meal and eco-vouchers are among the most expensive payment methods. Management fees range from 1.05 to 1.55 per cent per transaction for meal vouchers and from 2 to 2.75 per cent for eco-vouchers. By comparison, traditional electronic payments typically cost merchants between 0.2 and 0.9 per cent of turnover.
Issuers of meal and eco-vouchers argue that these fees should not be compared directly with standard card payment costs, noting that voucher networks are smaller and transaction volumes lower.
The study also found that online payments are generally more expensive than in-store transactions. Payments made via Bancontact are typically cheaper than those processed with Visa or Mastercard, while credit card transactions are even more costly. The growing use of digital wallets such as Apple Pay and Google Pay is also increasing merchants' payment costs.
The Price Observatory further noted that fees charged by international card schemes such as Visa and Mastercard have risen in recent years. According to the report, Bancontact helps keep costs down by exerting competitive pressure on international providers.
The FPS Economy said payment costs remain insufficiently transparent, particularly for smaller businesses. To address this, the federal government plans to launch a price comparison tool for merchants by the end of the year. The tool will also include providers of meal and eco-vouchers.
© BELGA PHOTO THIERRY ROGE
Related news
