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EuroCommerce Statement: EuroCommerce dismayed at MasterCard compromise - MasterCard deal sells out retailers and consumers

( April 1, 2009, 13:13 GMT | Official Statement) -- Extract: The decision to allow MasterCard to continue charging retailers and consumers a percentage fee on each card transaction is wholly unjustified and ill-conceived. Likewise, the setting of different rates for credit and debit cards has no basis in market reality. Both types of transaction require the same processing; therefore they should attract the same cost. This cost, according to studies done by the banks themselves, is less than one euro cent per transaction.EuroCommerce is very disappointed at the weak compromise announced by the Commission today on MasterCard interchange fees....

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