Antitrust: Vice President Almunia welcomes Visa Europe's proposal to cut inter-bank fees for credit cards

EU News 233/2013

14 May 2013
MEMO/13/431
Brussels

Vice President Almunia welcomes Visa Europe's proposed commitments to significantly cut its inter-bank fees for credit card payments, to a level of 0.3% of the value of the transaction (a reduction of about 40 to 60%) and to reform its rules in order to facilitate cross-border competition. The proposals by Visa follow the sending of a supplementary statement of objections by the Commission in July 2012 (see IP/12/871). The Commission will seek feedback on these proposals from interested parties through a market test. The Commission may then decide to make them legally binding on Visa Europe.

Source and additional information:
http://europa.eu/rapid/press-release_MEMO-13-431_en.htm?locale=en

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