This is a vast topic, with some areas where I would agree with the Visa position, including: 1/. Many processors/ acquirers charge a blended rate, so they look to recover the highest (inter-regional) rate from their merchants - so not likely to get any savings on lower interchange fees for the merchant, let alone for the consumer. The merchant will take the same position, pricing its goods assuming the highest cost of processing, so again no benefit for the consumer. 2/. Both the card associations and the EU appear to agree that encouraging non-cash based transactions is desirable, so this may be a better area to address in a coordinated manner. For instance, the loss on VAT collection in the EU is estimated as being over $200 billion per annum - most of that being caused by delayed settlements and cash payments being hard to identify. Imagine the value for Visa's image if they can be part of the solution to vastly reduce that amount. 3/. On a connected point, from this week the new rules on collecting VAT on the sale of digital goods to EU consumers come into effect, with a highly complicated calculation for merchants to follow. The fact that this has been introduced by the EU shows that the use of electronic payments is likely to be the future should encourage any provider of such services, whether Visa or a new provider like ApplePay. So, in summary, there are far greater gains to be achieved by working with the Commission - and perhaps that should be the way forward.