EU antitrust body probes MasterCard fees - Boston News, Weather, Sports | FOX 25 | MyFoxBoston

EU antitrust body probes MasterCard fees

Posted: Updated:

BRUSSELS (AP) - The European Union has launched an antitrust investigation into some of MasterCard's payment fees.

The European Commission, the EU's executive arm that acts as the antitrust authority, said Tuesday it has concerns that some of the U.S. company's interbank fees and related practices may violate competition rules.

Spokesman Antoine Colombani says interbank fees vary greatly across the 27-nation EU, with a card payment of 50 euros in the Netherlands costing 10 euro cents, but up to eight times that in Poland.

The Commission says rules hindering merchants from enjoying better terms offered by banks elsewhere may violate antitrust standards. It is also investigating fees charged to merchants when non-European card holders shop in Europe.

In 2007, the EU prohibited some of MasterCard's interbank fees. It is also investigating Visa.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Your MoneyMore>>

  • NYC Denny's features $300 breakfast

    NYC Denny's features $300 breakfast

    Friday, August 29 2014 4:04 PM EDT2014-08-29 20:04:13 GMT
    Diner chain Denny's is opening it's first New York City location, complete with a big-city "deal".   How does a $300 breakfast sound?    The Denny's is located at the corner of Nassau and Spruce in Lower Manhattan's Financial District.  Along with its normal food you can get at just about any location in the rest of the country, this location will offer a Grand Slam breakfast with a bottle of 2003 Dom Perignon champagne.
    Diner chain Denny's is opening it's first New York City location, complete with a big-city "deal".   How does a $300 breakfast sound?    The Denny's is located at the corner of Nassau and Spruce in Lower Manhattan's Financial District.  Along with its normal food you can get at just about any location in the rest of the country, this location will offer a Grand Slam breakfast with a bottle of 2003 Dom Perignon champagne.
  • Some Showboat workers get new jobs within company

    Some Showboat workers get new jobs within company

    Friday, August 29 2014 2:54 PM EDT2014-08-29 18:54:36 GMT
    More than 470 of the 2,000-plus workers at Atlantic City's Showboat Casino Hotel have found new jobs with other casinos owned by its parent company. The Showboat is shutting down Sunday afternoon after 27 years on the Boardwalk.
    More than 470 of the 2,000-plus workers at Atlantic City's Showboat Casino Hotel have found new jobs with other casinos owned by its parent company. The Showboat is shutting down Sunday afternoon after 27 years on the Boardwalk.
  • Teens want back-to-school gadgets, not clothes

    Teens want back-to-school gadgets, not clothes

    Thursday, August 28 2014 9:52 PM EDT2014-08-29 01:52:52 GMT
    For many students, school starts next week. So what will your teens be asking you to buy? Technology.That's right: they are willing to wear last year's clothes and instead spend money on the latest tech. Gone are the days of securing your status in high school with the right clothes. Now your teens need to own the newest tablet or smart phone and its accessories.
    For many students, school starts next week. So what will your teens be asking you to buy? Technology.That's right: they are willing to wear last year's clothes and instead spend money on the latest tech. Gone are the days of securing your status in high school with the right clothes. Now your teens need to own the newest tablet or smart phone and its accessories.
Powered by WorldNow

25 FOX Drive
Dedham, MA 02026

Phone (781) 467-2525

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices