Press Release: Antitrust: Commission makes Visa Europe’s commitments to cut inter-bank fees and to facilitate cross-border competition legally binding

On the 26 February 2014, the European Commission rendered legally binding the commitments offered by Visa Europe to significantly cut its multilateral interchange fees (MIFs) for credit card payments to a level of 0.3% of the value of the transaction (a reduction of about 40 to 60%) and to reform its rules in order to facilitate cross-border competition.

European Commission: RAPID: MEMO/14/138: Antitrust: Commission makes Visa Europe's commitments binding – frequently asked questions http://europa.eu/rapid/press-release_MEMO-14-138_en.htm

ESO: Background information: Antitrust: Commission market tests Visa Europe's commitments – frequently asked questions http://www.europeansources.info/record/antitrust-commission-market-tests-visa-europes-commitments-frequently-asked-questions/

EurActiv, 27.02.14: Commission and Visa Europe reach agreement on transaction fees http://www.euractiv.com/euro-finance/commission-visa-europe-reach-agr-news-533782

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