Buying food and drink on campus just got easier YUSU Commercial Service and The University of York have jointly announced that from Monday the 18th of September all card and mobile payment charges will be dropped.
Previously purchases below five pounds have been subject to a transaction charge by card of 40 pence. Additionally in January, YUSU Commercial Services controversially announced that those using Yoyo Wallet, the fintech app used for non-cash transactions on campus, would charge a 20p transaction fee for Yoyo payments that total less than £5.
The University of York and YUSU Commercial Services told Vision:
“We hope you are pleased with a decision that is a win for all of our customers and is one that reinforces our commitment to provide value for money to students, staff and visitors.”
Vision notes that the changes came about following a review of card and mobile payment charges promoted by the EU’s Payment Services Directive (PSD2). PSD2 will ban all transaction charges across the EU as of January 2018. The new rules will be put into UK law – and will continue even if we leave the European Union and EEA.
Whilst on their own the charges are small, over the years they can amount to a significant loss of savings.