Inter-regional interchange fees: the EU Commission accepts commitments by Mastercard and Visa

On April 29th, 2019, the European Commission announced that it has made the commitments offered by Mastercard and Visa legally binding. Therefore, the companies should significantly reduce (on average by around 40%) their multilateral interchange fees (MIF) for payments in the European Economic Area (EEA) with consumer cards issued elsewhere. Inter-regional interchange fees are MIFs…