7/24/13: MasterCard Inc. (MA) waged a “mad campaign” to derail caps on card fees, the European Union’s financial services commissioner said today as he unveiled plans to slash charges by 6 billion euros ($8 billion) a year. Michel Barnier said MasterCard used misleading information in its lobbying against proposals to cap interchange fees at 0.2 percent for debit card payments and 0.3 percent for credit cards. The limits target card systems also operated by Visa Europe Ltd. where banks charge each other interchange fees, or swipe fees, for handling payments.
Click here to read more: http://www.bloomberg.com/news/2013-07-24/eu-seeks-card-fee-caps-to-slash-retailers-costs-by-8-billion.html

Subscribe to the comments for this post?

Share this on Facebook

Share this on LinkedIn

Email this to a friend?

Share this on del.icio.us

Add this to Google Reader

Share this on Technorati

Seed this on Newsvine

Share this on Blinklist

Share this on FriendFeed

Add this to Google Bookmarks

Post on Google Buzz

Post this to MySpace

Share this on Plaxo

Submit this story to Propeller

Add to a lense on Squidoo

Stumble upon something good? Share it on StumbleUpon

Share this on Tumblr

Buzz up!

Source: Paymentspulse