06/07/2024  Visa, Mastercard to extend non-EU card fee caps to 2029, EU says


Visa (V.N , opens new tab and Mastercard (MA.N , opens new tab will extend caps on tourist card fees agreed five years ago with EU antitrust regulators by another five years to 2029, the European Commission said on Friday.

Visa, the world's largest payments network operator, and its closest rival Mastercard, in 2019 agreed to a 0.2% fee cap on non-EU debit card payments carried out in shops and a 0.3% fee limit on credit card payments to settle an EU antitrust investigation and avoid hefty fines.