The year 2023 was a record year, particularly difficult for the French. Hard hit by inflation, many have seen the price of their average shopping basket increase. Certain branded products even recorded a dizzying price increase during the year. And while many studies tend to say that inflation will slow down in 2024, consumers could well be hit in the wallet again. The fault is the bank cards which have recently changed their appearance, and are seeing their famous “CB” logo gradually disappear. Although it is emblematic of the French payment network, the latter has been increasingly left aside since 2020. The reason? The costs associated with it, which in fact encourage, according to The Net Journal in his article of February 21, 2024, “card issuers to opt for sleek designs”in a way to “reduce the costs of producing and updating maps”.
A situation closely linked to online and mobile payments
Another explanation for the potential increase in prices among retailers? The great popularity of online and mobile payments, which favor “the Visa and Mastercard networks, as well as the rise of neobanks and online banks not affiliated with the CB network”. These payments, when made to settle an amount, in fact lead to fees which are taken from the merchant. “These commissions and fees are the sum of three costs which further reduce the seller’s margin: the interbank payment commission or CIP, the fees levied by networks such as CB, VISA, Mastercard and the commission levied by the merchant’s bank ”explains moreover Capitalwhich specifies that “the CB network charges an average of 0.9% on these cards, while international networks such as Visa and Mastercard are more greedy”with 1.2% fees levied on each transaction. Thus, a card that no longer displays the “CB” logo is a card that belongs to another network, whose fees are higher. The merchant, to be able to survive, will subsequently have to increase his prices. Prices which, ultimately, will be passed on to consumers.
If the situation is not yet at this point, solutions can be considered on the side of traders, for example with negotiation “more favorable conditions with their bank” or, on the consumer side, cash payments. It is in fact not possible to take commissions on these.