Visa and Mastercard Commit to Prolong Non-EU Card Fee Caps in Response to EU Directive

Friday, 5 July 2024, 09:41

In a significant move, Visa and Mastercard have announced their agreement to extend the existing non-EU card fee caps until 2029, following the recent directive from the EU. This decision is expected to impact the pricing structure of card transactions globally, with potential implications for both consumers and businesses. The move reflects the ongoing efforts to regulate card payment fees and promote transparency within the financial services industry, ultimately aiming to create a more competitive and fair ecosystem for all stakeholders.

Investing.com — Visa and Mastercard Commit to Prolong Non-EU Card Fee Caps in Response to EU Directive

Visa and Mastercard extend non-EU card fee caps

In a recent development, Visa and Mastercard have confirmed their commitment to prolong the existing non-EU card fee caps until 2029, responding to a directive from the EU.

Global impact on card transaction pricing

This decision is poised to have far-reaching effects on the pricing structure of card transactions worldwide, impacting both consumers and businesses.

Transparency and regulation: The move indicates a proactive approach towards regulating card payment fees and enhancing transparency in the financial services sector.
Competitive ecosystem: The extension of fee caps aims to promote a more competitive and fair environment for all stakeholders involved in card transactions.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.