Mastercard fined EUR570 million over antitrust breach on cross-border interchange fees
( January 22, 2019, 10:45 GMT | Official Statement) -- MLex Summary: Mastercard must pay 570.6 million euros after settling an EU antitrust probe into rules that limited retailers' ability to contract with banks in other member states offering lower interchange fees. The rules on "cross-border aquiring" were in place until 2015 when an EU regulation outlawed them. The European Commission concluded the conduct limited merchants' ability to benefit from better conditions offered by banks in other EU countries.The press release is attached. ...
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