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Companies providing digital payment tools, Visa and Mastercard, are gearing up to increase some transaction processing fees in the US in April, the Wall Street Journal (WSJ) said Friday, citing sources who wanted to remain anonymous, said indicated Agerpres. .
As a result, some transaction processing fees in the US will be increased by Visa and Mastercard, companies offering digital payment instruments, the Wall Street Journal (WSJ) announced on Friday. Some changes are related to commissions paid by bank merchants when consumers use a debit or credit card to make a purchase in their store.
The fees charged by Mastercard and Visa for processing transactions should also increase, said the WSJ. The representatives of Visa and Mastercard did not want to comment on this information. In January, the European Commission decided to change Mastercard by 570.6 million euros, as it limited the possibility for operators to benefit from better terms offered by banks in other countries of the world. EU.
Good for Mastercard
When a consumer uses a debit or credit card in a store or to shop online, the merchant's bank pays a fee to the bank's debit or credit card holder. These fees are included in the final price paid by all consumers, even those who do not use a card. According to the rules used by Mastercard, the bank used by the merchant is required to apply the commissions in the country where the retailer is located and before December 9, 2015, the date on which certain limits were introduced, these commissions varied considerably. within the European Union.
"By preventing traders from enjoying better terms offered by other Member States, Mastercard rules have artificially increased the cost of card payments, which has affected EU consumers and retailers"said EU Commissioner for Competition Margrethe Vestager.
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