From now on, British citizens will need to pay a further five times the charge if they buy MasterCard products from an EU Union country or from any of these countries. British media reported this information during a report on Monday (January 25).
Following MasterCard’s decision, there are fears among consumers that product prices will rise abnormally. this is often because if you attend buy all the products that are imported from the EU and pay extra charges, the worth of the merchandise will increase abnormally. albeit you purchase all the products that aren’t available within the UK, British will need to face additional costs.
On the opposite hand, all British citizens traveling to the EU will need to pay five times the value of hotel, airfare, car use, visit various events or parties on holidays. this might increase the EU’s deficit.
MasterCard, however, blamed Britain’s exit from the EU (Brexit). This charge won’t apply to the customer but will apply to UK banks. So MasterCard won’t give any notice to their customers directly. But with the rise in the cost of the bank, at the top of the day, the concerned banks will collect the cash from their customers.
Before Brexit in October, I promised to extend the charge on MasterCard by a minimum of 0.3 percent.