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EU investigates Visa and Mastercard fee models for potential negative impact on retailers.
According to documents cited by Reuters on November 7, the European Union is investigating the fee charging practices of Visa and Mastercard systems to determine if they have a negative impact on retailers. The EU has sent questionnaires to local retailers and payment system operators to gather opinions on the practices of Visa and Mastercard. Issuing questionnaires is a common initial step by EU authorities in launching antitrust investigations. EuroCommerce, a industry association representing European retailers, criticized the two companies for their unfair system fees and lack of transparency. A spokesperson for Visa responded to the EU's inquiry.
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