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MasterCard ruling to impact rival Visa: EU's Kroes
BRUSSELS |
BRUSSELS (Reuters) - The European Commission's order for MasterCard (MA.N) to change the way it sets fees or face fines will act as a guide for its rival Visa Europe, the EU executive said on Wednesday.
"We will certainly be active and not wait," EU Competition Commissioner Neelie Kroes told a news conference.
The European Commission ruled on Wednesday that MasterCard (MA.N) must change the way it sets its fees for processing card transactions within six months or face daily fines.
Visa Europe negotiated a multi-year exemption from EU competition rules in return for capping its fees but the exemption lapses at the end of this month.
Kroes said she would re-investigate Visa's fee structure from January.
(Reporting by David Lawsky; writing by Huw Jones; editing by William Schomberg)
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