The European Commission has announced the launch of a formal investigation into MasterCard in relation to the credit card company’s inter-bank fees. The Commission reportedly is concerned over certain practices of the payment company, specifically in regards to inter-bank fees paid by cardholders that are not from the European Economic Area. Additionally, the bank will look into the practice of so-called cross-border acquiring, which prohibits merchants from utilizing benefits from rival banks established elsewhere within the internal market; MasterCard’s businesses practices in general will also be investigated. The Commission notes that the practices being investigated may hamper competition and lands fees on consumers. The Commission plans to announce a proposal for inter-bank fee regulation before this year’s summer. The Commission ruled in 2007 that MasterCard cannot impose fees on its customers for cross-border inter-bank fees within the European Economic Area, a ruling which MasterCard appealed.
Full Content: European Commission
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Lawyers Wrap Up Arguments to Block Kroger-Albertsons Merger
Sep 17, 2024 by
CPI
Financial Regulator to Monitor CNMC’s Ruling on BBVA-Sabadell Acquisition
Sep 17, 2024 by
CPI
Green Day Ticket Prices Spark Controversy Amid Dynamic Pricing Concerns
Sep 17, 2024 by
CPI
Michael Kors Points to TikTok and Taylor Swift in Defense of Luxury Handbag Market in FTC Case
Sep 17, 2024 by
CPI
Irish Watchdog Probes Google’s AI Data Practices
Sep 17, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández