Retailers urge European Commission to crack down on Visa, MasterCard
BRUSSELS (Reuters) -Europe's largest retailers and online retail giants 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 scheme fees, and what retailers say is a lack of transparency on these fees. The retailers' grievances have in part prompted the 27-country European Union to look into alternatives such as a digital euro to lessen dependence on American payment providers.
Reuters
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14 minutes ago
