MasterCard Nixes EU Cross-Border Interchange Fees

Law360, New York (June 12, 2008, 12:00 AM EDT) -- MasterCard Inc. has temporarily suspended the fees it charges for cross-border consumer card transactions in Europe to avoid being hit with a fine by the European Commission.

The company said Thursday its repeal of its intra-European Economic Area cross-border interchange fees complies with the commission’s December decision ordering it to nix the fees by June 21, but said it would continue talks with the antitrust watchdog about an appropriate interchange fee methodology.

MasterCard added that it was in the process of appealing the commission’s Dec. 19...
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