THE COMMISSION ISSUES STATEMENT OF OBJECTIONS AGAINST MASTERCARD IN RELATION TO CARD PAYMENT COSTS
On 9 July 2015, following formal proceedings launched in April 2013, the European Commission issued a Statement of Objections against MasterCard in which it formulated competition concerns in relation to the costs of card payments in the EU. Under discussion are interchange fees paid by the retailer’s bank (the ‘acquiring bank’) to the bank of…