Looking to Spain

Portuguese catering and Restaurant Association (ARESP) says its members are sick and tired of being “ripped off” by the high Multibanco and electronic charges charged by Portuguese banks. Instead, they have invited a major Spanish bank with lower processing rates, to enter the Portuguese market. Apparently, two Spanish banks are interested in processing card payments at a lower rate than Portuguese banks, which could lead thousands of bars, restaurants and cafés to jump ship.

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