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MasterCard Newsroom
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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New and old Mastercard will be "connected"! Mastercard Network officially launched upgrades and migrations for existing cards six months after opening for business, let's take a look at the latest response.
Mastercard announced that it will work with domestic partner banks to carry out the relevant work of upgrading and migrating existing cards to new "China Mastercard" cards and other acceptance products. Domestic dual-label cards issued before belong to a temporary measure when the bank card market was not completely open. Currently, Mastercard is upgrading and migrating existing bank cards as a domestic licensed card organization, solving historical legacy issues.