Mastercard And Visa To Slash Swipe Fees After EU Pressure

Law360, London (April 29, 2019, 12:45 PM BST) -- Mastercard and Visa have agreed to slash fees for European Union retailers that accept payments made through credit and debit cards issued outside the bloc by an average of 40 percent, the EU’s competition law enforcer said on Monday.

Mastercard and Visa have agreed under European antitrust law to slash fees for EU retailers when, for example, a U.S. tourist uses a credit or debit card to pay a restaurant bill in Brussels or London. (AP) The European Commission said the two companies have promised under European antitrust law to help force down costs for retailers when, for example, a U.S....

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