We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Waiting On Appeal, MasterCard Cuts Fees In Europe

Law360 (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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.