EU probes Visa, Mastercard fees on retailers

Visa and Mastercard have long dominated the market for payment cards, prompting complaints from retailers about so-called scheme fees levied by the two firms in recent years. — Reuters

BRUSSELS: European Union (EU) antitrust regulators are investigating whether the fees charged by Visa and Mastercard have a negative impact on retailers, an EU document seen by Reuters shows.

The European Commission, which enforces EU competition rules, sent questionnaires about both Visa and Mastercard to retailers and payment service providers in September, giving them until October to respond.