Brussels, 01/04/2009 (Agence Europe) - On Wednesday 1 April, European Commissioner for Competition Neelie Kroes indicated that, on the basis of information currently available, she sees no need to pursue MasterCard for non-compliance with a 2007 Commission decision that MasterCard's cross-border multilateral interchange fees (MIF) were in breach of EC Treaty rules on restrictive business practices. Following the 2007 Decision, MasterCard provisionally repealed its cross-border MIF on 12 June 2008 but increased its scheme fees from October 2008. MasterCard now has decided to apply a new methodology to its MIF for cross-border transactions which will result in a substantially reduced average weighted MIF level compared with that found to be in breach of EU antitrust rules. As from July 2009, MasterCard has agreed to get rid of the increase in costs it had decided to introduce in October 2008. MasterCard agreed to
change its system rules as of July 2009 in order to increase transparency and competition in the payment
cards market. (O.L./transl.rh)