The OFT said it thought revised fees introduced by MasterCard and the MasterCard Members Forum (MMF) may be set too high and that consumers could be paying the price.
MasterCard and the MMF could be setting fees to recoup costs associated with other things, such as the interest-free period offered on credit cards, said the OFT.
It has previously warned a collective agreement between MasterCard and the MMF breached competition law, claiming the fees amounted to 'a tax on consumers'.
A long-running investigation was launched by the OFT into credit card fees between 2000 and 2004, which reported its findings in September last year.
However, MasterCard had already introduced new fees, which came into force on November 18, 2004. The latest investigation will look into the charges since November 2004.
The issue relates to the interchange fee that is levied on most purchases made using a MasterCard as a percentage of the transaction and is ultimately paid by the retailer making the sale.
The OFT said these fees may be being passed on to consumers, including those who do not use cards issued by MasterCard, through higher prices in shops.
No comments yet