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Visa, Mastercard see UK fees cap proposed for cross-border card transactions

( December 13, 2024, 10:23 GMT | Official Statement) -- MLex Summary: The UK Payment Systems Regulator is considering capping the fees charged when European consumers buy online from UK businesses. The regulator said that due to a lack of competition, Mastercard and Visa were able to raise cross-border interchange fees "to an unduly high level," resulting in UK businesses having to pay hundreds of millions of pounds.Statement follows, consultation and report are attached....

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