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Mastercard, Visa propose to cut EU card fees

Dec 05, 2018 - Marketline Newswire

Mastercard and Visa have separately agreed to lower fees paid by merchants on acceptance of debit or credit cards issued outside the EU. The EU card fees cut is intended to end an antitrust investigation by the European Commission (EC).

The EC said that both the card giants proposed to cut the interchange fee by a minimum of 40%.According to the proposal, the companies will levy 0.2% and 0.3% fee on debit card payments and credit card transactions, respectively, made in-store.For online pa...