Mastercard strikes Brussels deal over fees

MasterCard Europe said on the 1 April 2009 that it had reached an understanding with the European Commission on interim interchange fees for cross-border consumer payments within the European Economic Area (EEA). New interchange fees will be set for these transactions while the company pursues its appeal of the Commission’s December 2007 decision regarding interchange. MasterCard Europe had temporarily reduced these fees to zero in June 2008 in order to ensure its conformity with the decision.

Mastercard: Press Release, 1.4.09: MasterCard Europe Reaches Interim Arrangement with European Commission on Cross-Border Interchange Fees http://www.mastercard.com/us/company/en/newsroom/european_commission_announcement.html

European Commission: Press Release: IP/09/515: Antitrust: Commissioner Kroes takes note of MasterCard's decision to cut cross-border Multilateral Interchange Fees (MIFs) and to repeal recent scheme fee increases http://europa.eu/rapid/pressReleasesAction.do?reference=IP/09/515&format=PDF&aged=0&language=EN&guiLanguage=en

ESO: Background information http://www.europeansources.info/record/mastercard-to-suspend-charge/

EurActiv, 2.4.09: MasterCard agrees to lower cross-border fees http://www.euractiv.com/euro-finance/mastercard-agrees-lower-cross-bo-news-221597

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