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MasterCard Inc Targeted In EU Antitrust Probe-Reuters

Tuesday, 9 Apr 2013 06:09am EDT 

Reuters reported that the European Union (EU) has opened an antitrust investigation into MasterCard Inc in connection with a number of practices, including inter-bank fees for payments by foreign cardholders such as U.S. tourists, authorities said. The European Commission, which enforces the bloc's competition policy, also said it is investigating MasterCard's limits on merchants using banks beyond their borders and its honor-all-cards rule requiring a merchant to accept all types of MasterCard cards. In 2007, the Commission already prohibited some of MasterCard's interbank fees and the Commission is currently investigating Visa, it said in a statement. Interchange fees paid by the merchant bank to the cardholder bank largely determine the prices paid by merchants for accepting MasterCard payment cards.