Visa in talks to settle EU probe of international card fees

21 September 2018 9:32pm
Visa is in talks with the European Commission to end a probe into the fees charged when foreign cards are used inside the EU, MLex has learned.

The card network appeared at a closed-door hearing in February to contest allegations of anticompetitive conduct, but both sides are now understood to be negotiating a resolution to the investigation.

A spokesman for Visa declined to comment on “ongoing inquiries,” saying: “We continue to engage constructively with all regulators. Visa firmly believes that payment card transactions by international tourists are an important contributor to European economies.”