The EU Commission makes legally binding the commitments offered by a global payments technology company to cut interbank fees for debit cards (Visa Europe)

Payment cards: Visa debit card fees go down* 1. Background Card payments represent about 35 % of all non cash payments in the EU 27. It is estimated that businesses pay tens of billions of euros (25 billion in 2005) in fees per year to accept cards. The Commission has a long history of investigations and cases against card payment schemes and MasterCard and Visa in particular [1]. For the most part, such cases have focused on so called interchange fees. More effective competition in fees charged for payment card transactions is highly desirable as it is likely to lead to considerable benefits for merchants and consumers. It could also have important consequences more generally, as inefficiencies in the payments market, particularly for cross border payments, are perceived to be one

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Authors

Quotation

Annamaria Marchi, Gabor Gal, The EU Commission makes legally binding the commitments offered by a global payments technology company to cut interbank fees for debit cards (Visa Europe), 8 December 2010, e-Competitions Bulletin Commitment Decisions, Art. N° 47954

Visites 133

All issues

  • Latest News issue 
  • All News issues
  • Latest Special issue 
  • All Special issues