MasterCard, Visa To Slash Fees In French Antitrust Settlement

Law360, New York (May 6, 2013, 5:25 PM EDT) -- MasterCard Inc. and Visa Inc. have agreed to lower certain interbank fees in an effort to allay France's competition concerns over the fees, the country's antitrust authority said Monday.

France's Competition Authority said in a statement that MasterCard and Visa had committed to a “significant reduction in their respective main interbank fee rates,” adding that it would conduct a market test of the proposed commitments to collect the views of interested parties.

The watchdog is looking into the setting of interbank payment fees, which are paid...
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