The European Commission invited interested parties to comment on the commitments separately proposed by Visa and MasterCard in the Interregional Interchange Fees (Inter-regional MIFs) case on Tuesday 4 December.
This consultation echoes the statements of objections sent to MasterCard in July 2015 (see EUROPE 11355) and to Visa in August 2017. In these communications, the Commission expressed concern that the level of inter-regional MIFs, which both companies determine by default, under certain conditions, could lead to an anti-competitive increase under EU law in the prices charged by European retailers for the acceptance of cards issued outside the EEA and, consequently, to higher prices for consumer goods and services in the EEA.
As a reminder, inter-regional MIFs are commissions paid by banks for purchases in a store or online, when purchases are made in the European Economic Area (EEA) via a credit or debit card issued outside the EEA.
In response to the Commission's concerns, the two companies, separately, have proposed commitments to reduce inter-regional MIF rates by at least 40%. Several measures are planned to do this.
Interested parties will have one month to give their opinion on these commitments from the date of their publication in the Official Journal of the EU. (Original version in French by Lucas Tripoteau)