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…

The European Commission fines Mastercard €570 million for limiting merchants’ access to cross-border card payment services

On January 22, 2019, the European Commission fined Mastercard €570 million on the assumption that its card scheme limited the possibility for merchants to benefit from better conditions offered by banks established elsewhere in the Single Market in contrast with the European competition rules. Mastercard offers a bank card scheme in the European Economic Area…