Visa to get EU clearance on fees - Dow-Jones

Dow-Jones newswires reports that European anti-trust authorites have reached a compromise agreement with Visa International on reducing levels of interchange fees for processing card transactions.

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Visa to get EU clearance on fees - Dow-Jones

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Under the agreement, banks can continue to charge store owners to use Visa cards, but Visa must cut its interchange fees by 20% reports Dow-Jones, citing un-named company lawyers and officials.

The decision, which is set to be announced next week says, will be construed as a victory for Visa which faced the prospect of having to abolish its charging structure.

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