The EU is to investigate the fees levied by Visa on cross-border credit and debit card transactions, it was announced today.
The British Retail Consortium, which has been conducting a campaign against what it claims are “excessive” charges levied by the credit card company, is anticipating a ruling against Visa.
BRC director-general Stephen Robertson said: “We applaud the Commission’s determination to end this unfair tax on consumers. This has been a long fight for the retail industry and its customers. Card Companies have clearly been abusing their position to bolster profits while retailers and their customers bear the cost.”
In December, the Commission ruled that the charges imposed by Mastercard on retailers for cross-border credit and debit card transactions were unlawful.
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