The European Union’s antitrust commission is
to file a formal compliant against Visa over its interchange fees
in the Euro area.
The decision by EU antitrust chief Joaquin
Alumnia follows a previous probe into MasterCard, resulted in a
regulators’ fine over its own interchange fees.
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Both companies had come under the EU
commissioner’s fire in May this year and urged to align interchange
fees in the EU with competition rules.
The decision is consistent with the commission
plan to create an integrated cards, internet and m-payment market,
which includes lowering card-transaction costs.
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By GlobalData
