Visa, Mastercard interchange fees targeted in JFTC's credit-card survey
( April 8, 2022, 08:27 GMT | Official Statement) -- MLex Summary: Credit-card surcharges came under tight scrutiny by a new market survey published by the Japan Fair Trade Commission, with Visa and Mastercard asked by the antitrust regulator to disclose their interchange fees to promote competition and ultimately lower retailers’ cost of accepting credit-card payments. The JFTC also called for more transparency in transaction fees among Visa and Mastercard rivals Amex and other brands that use a three-party system and don’t employ interchange fees. The report also pointed to competition concerns over anti-steering provisions, restrictions on charging surcharges or discounts for cash payments, unilateral contract changes and requiring card issuers to adopt contactless cards.The report, in Japanese, is attached....
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