Monday, November 13, 2006

"EU to start MasterCard closed hearing on Tuesday" (Reuters)

Accoring to Reuters, "MasterCard faces EU antitrust scrutiny this week over fees it charges shops to accept its credit and debit cards as part of a 1.3 trillion euro ($1.67 trillion) annual turnover. The European Commission alleges the company restricted competition by setting minimum prices retailers must pay, and will open two days of closed hearings starting on Tuesday. The Commission is considering abolishing controversial and complex interbank fees charged by MasterCard, which can differ card by card."

[Source: Via Reuters]