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EC sends Visa objection statement over interchange fees

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EC sends Visa objection statement over interchange fees

The European Commission has sent a supplementary state of objections to Visa Inc. and Visa International as part of an investigation into interregional interchange fees, or charges that merchants in the EU pay for card payment transactions carried out at their shops by customers from outside the bloc.

"Interregional fees represent an important part of the total fees within the Visa scheme," the EU executive body said Aug. 3.

The objection statement focuses the analysis on the conducts that were not addressed by commitments made by Visa Europe in 2014; covers interregional fees applied on transactions with consumer debit and credit cards; and takes into account Visa Inc.'s acquisition of Visa Europe, which as a result ceased to exist as a separate undertaking.