According to a report from the Wall Street Journal, Visa and Mastercard have offered to cap the fees charged on card payments made by tourists in the European Union to stave off fines and end an EU antitrust investigation. The European Commission announced both companies made offers to lower fees known as interregional interchange fees. […]
According to a report from Reuters, Visa and Mastercard have proposed lowering the fees merchants face when they accept payments from non-EU credit cards in a bid to settle a long-running EU antitrust investigation. Even after the reduction, such fees—which are paid by merchants when they accept card payments and are a lucrative source of […]
Visa, American Express, and Mastercard are among the payment companies that are the subject of an inquiry by Brazilian regulators. According to a report in Bloomberg citing the Brazilian Administrative Council for Economic Defense (CADE), the Brazilian regulators are looking to see if the credit card companies ran afoul of payment network rules. Bloomberg noted […]
On Tuesday, September 18, Visa, Mastercard, and a number of US banks agreed to pay US$6.2 billion to settle a long-running antitrust suit brought by merchants over the fees they pay when they accept card payments, reported Reuters. Visa and Mastercard previously reached a US$7.25 billion settlement with the merchants in the case, but that […]
Credit card companies Visa and MasterCard set fees at an unlawful level that restricted competition, a London appellate court ruled Wednesday. The Court of Appeal confirmed two earlier rulings that the card charges , known as interchange fees, infringed EU competition law reported Bloomberg. The ruling, which also involved WalMart Stores’ Asda and Wm Morrison […]
Visa and PayPal announced news on Wednesday, May 9, that they have expanded their strategic partnership to include Canada, where the two companies will work together to accelerate adoption of secure, reliable and convenient digital and mobile payments for consumers and merchants. In a press release, Visa and PayPal said they’ve already collaborated in the […]
According to a report by Bloomberg, a case between retailers and credit-card companies that has lasted five years reached a London appeals court Monday, April 16, that could determine the fates of lawsuits potentially worth billions. Retailers, which include Wal-Mart, Asda and Sainsbury, are arguing that some fees set by Visa and Mastercard are anti-competitive. […]
Visa is fighting back against accusations that it charges tourists excessive fees when they use their cards in the European Union. According to Reuters, Visa will present its case against the antitrust charges in front of senior European Commission officials and national competition officials at a two-day closed hearing. If the company loses the case, […]
Europe’s competition watchdog has sent charges regarding non-Europeans’ debit cards in its ongoing investigation of Visa’s multilateral interchange fees. These are the fees merchants have Europe’s competition regulator has sent charges regarding non-Europeans’ debit cards in its ongoing investigation of Visa’s multilateral interchange fees.. In 2005, the European Commission ended another investigation into the company’s […]
A federal judge in Washington, DC has rejected a bid by independent automated teller machine operators to block rules issued by Visa and Mastercard that the operators claim restrict competition by fixing ATM access fees. In a decision on Monday, Judge Richard Leon in US District Court for the District of Columbia rebuffed the operators’ […]