Payments News

European Merchants Would Pay 40% Less to Accept U.S.-Issued Cards Under Visa-Mastercard Proposals

Dec 04, 2018

European merchants could see their costs to accept Visa Inc. and Mastercard Inc. payment cards issued outside of Europe decline by 40% under separate proposals submitted by the two leading card networks to settle competition concerns raised by European Union antitrust authorities.

The European Commission, the administrative arm of the Brussels, Belgium-based EU, announced Tuesday that it is taking comments on separate proposals by Visa and Mastercard to cap so-called interregional multilateral interchange fees, also known as MIFs, at 0.2% and 0.3% of the value of debit and credit point-of-sale transactions, respectively.

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