Waiting On Appeal, MasterCard Cuts Fees In Europe

Law360, New York (April 1, 2009, 12:00 AM EDT) -- MasterCard Inc. has agreed to temporarily trim the fees it adds to cross-border transactions in Europe while it continues to pursue an appeal of a 2007 European Commission ruling that its original rates violated antitrust laws.

In a statement issued Wednesday, MasterCard's European arm said it would cut its cross-border multilateral interchange fees to 0.3 percent per transaction for consumer credit cards and 0.2 percent for consumer debit cards, down from highs of 0.8 percent to 1.9 percent in 2007.

In December 2007, the European Commission...
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