European Commission Reviews Fees Charged By Visa & Mastercard

The European Commission has begun reviewing fees imposed by Visa and Mastercard on financial institutions serving retailers using their payment networks. Requests for information were sent last week.

The commission described the investigation as ongoing but gave no further details. They focus on whether retailers have a genuine choice to accept these payments, the value merchants receive for fees passed on to them, and the transparency of such charges. Visa stated its fees reflect the value provided to financial institutions, merchants, and consumers, including security and reliability. Mastercard emphasised its role in offering convenient and secure payment options. European retail trade groups have urged the commission to regulate interchange fees, enhance transparency, and enforce non-discriminatory rules on international card schemes, citing concerns about increasing fees without regulatory oversight.