Merchant account

Greek banks are now promoting fixed monthly charges instead of ad hoc fees per transaction, under the burden of fines from the Competition Commission, the backlash from their customers and pressure from the government.

The fees that banks charge retailers for processing shoppers' payments would be capped under new rules voted by European Parliament on Thursday.

Measures to make online payments safer, reduce costs and give users more choice were adopted by a separate vote on the same day, an official press release on the EP website states.