Visa and Mastercard have committed to keep a cap on tourist card fees in place for another five years, says the European Commission, according to Finextra.
In 2019, the US payments giants agreed to cut interchange fees for payments made in Europe by cards issued elsewhere by an average of 40% following an EU anti-trust investigation.
That deal was set to run for five years, until November 2024, but has now been extended for another five years, to November 2029.
For card present transactions, the fees will remain capped at 0.2% for debit cards and 0.3% for credit cards. For card not present transactions, the caps stays at 1.15% for debit cards and 1.5% for credit cards.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
