14/05/2013 (Agence Europe) - European Commission welcomes Visa's commission charge promises. On Tuesday 14 May, the European Commission welcomed the commitments made by Visa to reduce some of the charges it makes to banks, and the Commission says it may now decide to close its investigations into the Visa bank card company, making the commitments compulsory. The problem is the multilateral interchange fees (MIF). The Commission is pleased that Visa is promising to cut the MIF to 0.3% of the transaction value, in other words a 40% to 60% reduction. Visa has also promised to change its operating rules to make cross-border trade easier. The Commission will now test the proposals on the market and consult interested parties before deciding whether to make the commitments legally binding, which would enable the Commission to end its investigation without imposing sanctions on Visa. (LC/transl.fl)