Home / Centerstage / 2000 / october / Week 2 /
The European Commission announces that it has sent a letter to Visa International, in which it objected to a standard fee that the company levies on credit card transactions, accusing Visa of anti-competitive behaviour. This interchange fee is paid by the retailer's bank to the cardholder's bank for every card transaction and is set by Visa, according to the Commission, and it is effectively a form of price-fixing among Visa's member banks.
Saturday, 14 October, 2000