EU Launches Antitrust Probe of MasterCard Fees

EU Launches Antitrust Probe of MasterCard Fees

April 17, 2013         Written By Justin Hefner

The European Commission has begun an investigation regarding the fees MasterCard charges consumers for card transactions made while visiting Europe.

According to the BBC, the European Commission, the antitrust regulator of the European Union, said some of the firm’s “inter-bank fees and related practices may be anti-competitive.” Debit and credit card payments made by visitors to the European Economic Area will be the center of the investigation. This includes the 27 members of the European Union plus Norway, Liechtenstein and Iceland. The Commission will also examine the company’s restrictions on merchants that want to save money by using banks outside their own country.

If found guilty, MasterCard could face fines up to $740 million, the equivalent of 10 percent of its 2012 revenue.

MasterCard joins rival Visa in being targeted by the EU for similar practices.



The information contained within this article was accurate as of April 17, 2013. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


justin

About Justin Hefner

Justin Hefner is in the education field and has written about a number of financial issues. He holds a Bachelor of Arts degree from Texas Tech University and a Masters in Education from Texas State University.
View all posts by Justin Hefner
Featured Limited/No Credit
Top Features : No annual fee; reports to major credit bureaus; access to higher credit line after making first 5 monthly payments on time
Featured Fair Credit Card
Top Features : No annual fee; access to higher credit line after making first 5 monthly payments on time
Featured Low Interest Card
Top Features : 1.25X miles on every purchase; no annual fee; bonus of 20,000 miles once $1,000 is spent in first 3 months
Featured Cash Back Card
Top Features : 1.5% cash back on all purchases; $150 bonus after spending $500 in first 3 months
Featured No Annual Fee Card
Top Features : 2% cash back on purchases: 1% when you buy plus 1% as you pay; 0% APR for 18 months on balance transfers
Featured Bad Credit Card
Top Features : Perfect credit not required; Reports to major credit bureaus