{"id":7812,"date":"2013-04-11T09:50:55","date_gmt":"2013-04-11T08:50:55","guid":{"rendered":"https:\/\/thealternativeagency.co.uk\/indigo\/?p=7812"},"modified":"2013-04-11T09:50:55","modified_gmt":"2013-04-11T08:50:55","slug":"mastercard-and-visa-undergo-eu-investigation","status":"publish","type":"post","link":"https:\/\/designoholic.uk\/indigo\/mastercard-and-visa-undergo-eu-investigation\/","title":{"rendered":"MasterCard and Visa undergo EU investigation"},"content":{"rendered":"

\"MasterCard<\/a>An investigation is to take place into MasterCard and Visa cards inter-banking fees. The problem came across when they found if a US tourist was to use one of these cards inside the EU the charges would be extremely high, much higher than those who live in the EU but are travelling to another country within the EU. The problem arises with MasterCard and Visa as well as other rival companies all trying to compete on their inter-banking charges.<\/p>\n

It\u2019s said that the companies could be charged $740m or 10% of their 2012 revenue which for MasterCard the revenue for 2012 is $7.391 billion and for Visa $10.4 Billion if they are to be found guilty by EU representatives. Both companies say they will fully co-operate with the investigation, If found guilty the fines could have quite a detrimental effect on their businesses.
\nBack in 2007 MasterCard had a similar probe into cross-border fees for within the European economic area and where found guilty and banned from making these charges. Yet MasterCard still say their aims are to \u201cbalance the interest of both customers and retailers\u201d, it\u2019s up to you whether you believe that or not but a reoccurrence of a similar investigation seems all too suspicious. “Ultimately, such behaviour is liable to slow down cross-border business and harm EU consumers,” where the claims against MasterCard and Visa.<\/p>\n

The investigation seems to be set in stone as the Commission said there would be a submission of a proposition to inter-banking fees in the middle of the year to try and attempt to level the playing field for all card providers, essentially to avoid anything like this happening again. MasterCard and Visa will be hit hard in the pocket if anything like this was to go ahead, but I\u2019m sure they\u2019ll find another version of a loop hole again.<\/p>\n","protected":false},"excerpt":{"rendered":"

An investigation is to take place into MasterCard and Visa cards inter-banking fees. The problem came across when they found if a US […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-7812","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\nMasterCard and Visa undergo EU investigation - Indigo Car Hire<\/title>\n<meta name=\"description\" content=\"MasterCard and Visa undergo EU investigation into inter-banking fees and charges, they could be hit hard in the pocket but are no strangers to such probes\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/designoholic.uk\/indigo\/mastercard-and-visa-undergo-eu-investigation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MasterCard and Visa undergo EU investigation - 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