Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Visa Inc    V   US92826C8394

VISA INC (V)

211
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

MasterCard says to appeal EU court fees ruling

05/24/2012 | 10:02am US/Eastern

MasterCard said it plans to appeal against a decision by Europe's second-highest court to dismiss its legal challenge to an EU ban on its cross-border credit card fees.

The Luxembourg-based General Court upheld a 2007 decision by the European Commission that MasterCard's cross-border multilateral interchange fee (MIF) levied on retailers' credit and debit card transactions breached EU antitrust rules and had to be changed.

"It is our intention to appeal as soon as we've analysed the more than 60-page judgment," MasterCard President Javier Perez said in a statement on Thursday. "We will likely continue to discuss with the Commission what would be the best way forward."

For the time being, MasterCard will continue to apply reduced cross-border fees imposed since 2009 in a bid to avoid penalty payments for not complying with the 2007 decision, Perez said.

(Reporting by Foo Yun Chee, writing by Charlie Dunmore; editing by Rex Merrifield)

Stocks treated in this article : Mastercard Inc, Visa Inc.
React to this article
Latest news on VISA INC
10:28a VISA : plans to buy online marketing vendor TrialPay
10:07a VISA : Airtel, Visa extend mobile payments to 7 African countries
09:02a VISA : and Airtel Extend Mobile Payments to Seven African Countries
03:07a VISA : and Samsung bring mobile payments to the new Samsung Galaxy S6
01:26a VISA : Partners to Enable Mobile Payment Services
03/02DJCostco Names Citi, Visa as New Credit Partners -- 4th Update
03/02DJNasdaq Composite Ends Above 5000 for First Time Since Dot-Com Era
03/02DJMARKET SNAPSHOT : U.S. Stocks Close At Records; Nasdaq Ends Above 5,000
03/02DJMARKET SNAPSHOT : U.S. Stocks Rally; Nasdaq Returns To Milestone 5,000 Level
03/02DJNasdaq Hits 5000 for First Time Since Dot-Com Era
Advertisement
Chart
Duration : Period :
Visa Inc Technical Analysis Chart | V | US92826C8394 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF