EU action against MasterCard

TAGS: Mastercard-European Union

12 July 2015

A sign with a logo of MasterCard is seen on the door of a shoe shop in Stavropol January 13, 2015. International credit and debit card company MasterCard has agreed to transfer card processing inside Russia to the local state-owned system, Russia's Central Bank said on Monday. REUTERS/Eduard Korniyenko (RUSSIA - Tags: BUSINESS LOGO) - RTR4LASE

The European competition authorities accuse the company that violates fair competition regulations.

The principles of the European Union formally appealed against MasterCard, accusing it of violating the regulations on fair competition, increasing the cost of payments through credit cards.

The classes, after two years of research, is another step in a series of legal disputes between EU and US credit card companies, such as credit card charges Visa.

“We suspect that the MasterCard increases artificially the cost of credit card payment. These supplies are detrimental to consumers and retailers in the EU, “said EU Competition Commissioner Margrethe Vestagker.

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Mastercard- European Union


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