| Author (Person) | Laitner, Sarah |
|---|---|
| Series Title | Financial Times |
| Series Details | 27.3.08 |
| Publication Date | 27/03/2008 |
| Content Type | News |
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Visa Europe, a franchise of the world's biggest credit card network, is under investigation by European Union competition authorities over the cross-border fees it sets for transactions, March 2008. The European Commission has decided to open formal antitrust proceedings against Visa Europe Limited in relation to its multilateral interchange fees (MIF) for cross-border point of sale transactions within the EEA using Visa branded consumer payment cards, and the 'Honour-All-Cards-Rule' as it applies to these transactions. The proceedings will seek to establish whether these practices constitute infringements of Article 81 of the EC Treaty and Article 53 of the EEA Agreement, which forbid restrictive business practices such as price fixing. |
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| Subject Categories | Internal Markets |
| Countries / Regions | Europe |
