The association told TTG it would continue to lobby the UK government to highlight the “negative impact” the upcoming move will have on the sector and said it would be releasing detailed advice” for members shortly.

The change falls under the Payment Services Directive 2 (PSD2) – EU regulation set to come into UK law by January 13, 2018.

Abta added that it would be writing to Westminster to “strongly oppose” any potential extension to PSD2 to also encompass American Express and charge cards such as Diners Club International.

Alan Bowen, legal adviser to the Association of Atol Companies, said he believed travel would be the “most seriously affected” industry when the legislation becomes law.

“Those who use them [the charges] to prop-up their business are going to find the marketplace somewhat more challenging in January,” he told TTG.

“Some haven’t necessarily planned to run their business making money on what they sell, but from card-charging instead.”

Bowen said he believed “at least 95%” of transactions in the industry were conducted by debit and credit cards, with an industry-average surcharge of around 2%. He added that smaller independent agencies may be particularly unaware of the changes and urged them to be prepared.

Sunvil Holidays chairman Noel Josephides added: “It can be difficult for businesses to look ahead and I don’t believe a lot of agents are aware of what is going to hit them in a few months’ time.”

He said tour operators would “undoubtedly” have to increase prices to offset funds lost through the ban on card surcharging.

A consultation on how best to implement the legislation was launched on February 2 and is due to end next week.