FILE PHOTO: MasterCard and VISA credit cards are seen in this picture illustration taken June 9, 2016. This logo has been updated and is no longer in use. REUTERS/Maxim Zmeyev/Illustration/File Photo
BRUSSELS (Reuters) - Europe's largest retailers and online retail companies have urged the European Commission to rein in allegedly high fees charged by Visa and Mastercard, saying they hurt the bloc's competitiveness and hamper rivals.
Visa and Mastercard dominate the market for payment cards and have in recent years faced complaints from retailers about their fees, and what retailers say is a lack of transparency on these fees. The two U.S. companies process about two-thirds of card payments in the euro zone.
