Visa and Mastercard Commit to Continued Cap on Tourist Card Fees in EU
Monday, 8 July 2024, 00:00
Visa and Mastercard Extend Cap on Tourist Card Fees
Visa and Mastercard have announced a five-year extension on the cap placed on tourist card fees within the EU, reaffirming their commitment to consumer-friendly practices.
Benefits for Travelers and Businesses
- Stability: The extension provides stability and predictability in transaction costs for travelers and businesses conducting cross-border transactions.
- Consumer-Friendly: This decision ensures continued affordability and accessibility for tourists using payment cards within the EU.
- Competition: The cap supports fair competition in the financial services sector, promoting transparency and fairness in transaction fees.
Conclusion: Visa and Mastercard’s decision to maintain the cap on tourist card fees demonstrates a positive commitment to consumer interests and market competitiveness in the EU, fostering trust and efficiency in the payment industry.
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.