Visa Europe, EU Near Deal Over Interchange Fees

By Erin Coe (January 21, 2009, 12:00 AM EST) -- Visa Europe Ltd. is reportedly close to reaching a deal with the European Commission over cross-border interchange fees that could resolve the agency's ongoing antitrust investigation into whether the company engaged in price-fixing.

The credit card company is having a "very constructive dialogue" with the antitrust watchdog and expects an agreement "as soon as possible" this year, Visa Europe CEO Peter Ayliffe told Reuters on Tuesday.

Ayliffe said the company wanted to agree to a business model and level of interchange that could be applied in the same way across Europe, according to Reuters. Visa's interchange fee of 0.7 percent is...

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