19 January 2018
visit www.ebaday.com

Retail association hits Visa Europe with interchange antitrust complaint

16 June 2009  |  7278 views  |  0 Visa Card

Retail association EuroCommerce has lodged a complaint against Visa Europe, accusing the card network of infringing European competition law over interchange fees.

In April the EC hit Visa Europe with an antitrust charge, accusing the card network of violating competition rules over cross border interchange fees.

It emerged today that the commission has extended the deadline - to the end of July - for Visa Europe to respond to the charge.

EuroCommerce, which counts Tesco and Carrefour among its members, has now entered the fray and called on the EC to impose the same ruling on Visa as MasterCard faced in December 2007.

As a formal complainant the association will have full access to the case file and can add statements.

Xavier Durieu, secretary general, EuroCommerce, says: "The Visa interchange fee procedure is completely unfair. Retailers are forced to pay for a range of services from which they do not benefit. Bank rates are the only services which retailers, even the largest ones, are not able to negotiate."

A Visa Europe spokesperson says: "Eurocommerce's claims are unfounded and do not reflect the interests of consumers."

EuroCommerce first lodged a complaint against MasterCard and Visa 12 years ago as part of the tortuous interchange battle in Europe.

This contributed to Visa signing an antitrust agreement with the EU's Competition Commission in 2002, agreeing to reduce levels of interchange fees for processing card transactions in return for immunity from legal action.

However, following the expiration of the deal, last March the EC launched a probe into whether the interchange fees charged by Visa Europe "forbid restrictive business practices such as price fixing".

The firm moved to adopt a new methodology for setting cross-border fees, cutting the average from 0.7% to 0.61% but this did not satisfy the commission or EuroCommerce.

MasterCard capped fees at a much lower rate of 0.3% for credit cards and 0.2% for debit cards following an agreement with the EC as an interim measure in April pending a legal appeal against the Commission's ruling that the firm should scrap fees altogether.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

US authorities push interchange negotiation bill

US authorities push interchange negotiation bill

05 June 2009  |  6173 views  |  0 comments
EC hits Visa Europe with interchange antitrust charge

EC hits Visa Europe with interchange antitrust charge

06 April 2009  |  10495 views  |  0 comments
MasterCard re-introduces interchange fees for cross-border payments

MasterCard re-introduces interchange fees for cross-border payments

01 April 2009  |  12239 views  |  0 comments
Eurozone banks told to ditch direct debit interchange by 2012

Eurozone banks told to ditch direct debit interchange by 2012

24 March 2009  |  8952 views  |  1 comments
Visa Europe says close to EC deal on interchange fees

Visa Europe says close to EC deal on interchange fees

20 January 2009  |  8975 views  |  0 comments
EC moves to kick start Sepa direct debit scheme

EC moves to kick start Sepa direct debit scheme

04 September 2008  |  12822 views  |  0 comments
Merchants win collective bargaining powers over US interchange fees

Merchants win collective bargaining powers over US interchange fees

17 July 2008  |  7549 views  |  0 comments
MasterCard Europe suspends cross-border interchange fees

MasterCard Europe suspends cross-border interchange fees

13 June 2008  |  14009 views  |  0 comments
EC launches probe into Visa Europe interchange fees

EC launches probe into Visa Europe interchange fees

26 March 2008  |  12164 views  |  0 comments
MasterCard claims court ruling 'reaffirms legality of interchange'

MasterCard claims court ruling 'reaffirms legality of interchange'

14 March 2008  |  8364 views  |  0 comments
MasterCard appeals EC interchange ruling

MasterCard appeals EC interchange ruling

03 March 2008  |  9289 views  |  0 comments
EC orders MasterCard to drop interchange fee structure

EC orders MasterCard to drop interchange fee structure

19 December 2007  |  14603 views  |  0 comments
EU competition commission eyes Visa interchange fees

EU competition commission eyes Visa interchange fees

20 February 2007  |  12506 views  |  0 comments
EU meddling in interchange threatens to derail Sepa project warns MasterCard

EU meddling in interchange threatens to derail Sepa project warns MasterCard

01 February 2007  |  12512 views  |  0 comments
EC abandons retailers and backs down on interchange fees

EC abandons retailers and backs down on interchange fees

30 January 2007  |  9967 views  |  0 comments
Visa to get EU clearance on fees - Dow-Jones

Visa to get EU clearance on fees - Dow-Jones

19 July 2002  |  8056 views  |  0 comments
Visa cleared in landmark EC anti-trust ruling

Visa cleared in landmark EC anti-trust ruling

10 August 2001  |  4551 views  |  0 comments
European Commission objects to Visa fees

European Commission objects to Visa fees

17 October 2000  |  4452 views  |  0 comments

Related company news

 
visit www.vasco.comvisit www.niceactimize.comvisit www.ebaday.com

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
11214 views comments | 32 tweets | 38 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
10331 views comments | 17 tweets | 18 linkedin
Wells Fargo to close 900 branchesWells Fargo to close 900 branches
9937 views comments | 14 tweets | 16 linkedin
KFC introduces Bitcoin BucketKFC introduces Bitcoin Bucket
9397 views comments | 18 tweets | 16 linkedin
FinTech Scotland appoints new CEOFinTech Scotland appoints new CEO
8485 views comments | 8 tweets | 6 linkedin

Featured job

Competitive base + commission (double OTE)
London, UK

Find your next job