Visa and Mastercard Announce Extension of Non-EU Card Fee Caps for Tourists

Friday, 5 July 2024, 14:08

Visa and Mastercard have reached an agreement with EU regulators to extend the caps on non-EU card fees for tourists until 2029. The decision will impact the cost of transactions for travelers using Visa and Mastercard outside the EU. This move reflects the ongoing efforts to regulate and monitor transaction fees in the global financial landscape, providing more transparency and cost savings for consumers.

Seeking Alpha — Visa and Mastercard Announce Extension of Non-EU Card Fee Caps for Tourists

Visa and Mastercard Extend Non-EU Card Fee Caps

Visa and Mastercard have agreed to continue capping non-EU card fees for tourists until 2029, as mandated by EU regulators. The extension aims to regulate transaction costs and promote transparency in cross-border payments.

Implications for Travelers and Transaction Costs

This decision will impact the costs incurred by travelers using Visa and Mastercard outside the EU, potentially resulting in savings on transaction fees.

Duration: Extension of fee caps for five more years until 2029.
Regulation: Compliance with EU regulations on transaction fees.

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.