UK Watchdog To Review Rising Visa, Mastercard Fees

By Alex Davidson (June 21, 2022, 2:59 PM BST) -- The payments watchdog said on Tuesday that it plans to carry out reviews into why Mastercard and Visa have hiked up the card fees payable by banks providing services to card holders and merchants and whether this is hurting competition.

The Payment Systems Regulator will focus on the fee hikes by the two companies that account for 99% of debit and credit cards in the U.K., particularly on cross-border transactions with Europe after Brexit.

"We have set out what we will assess in these reviews, which will then inform any decisions on the steps we might need to take to promote...

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