Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

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


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
07/02 VISA : to Announce Fiscal Third Quarter 2015 Financial Results on July 23, 2015
07/01DJMonitise Shares Soar on Santander Joint Venture
06/30DJMasterCard Stops Processing Purchases of Ads on Backpage.com
06/30DJMasterCard Stops Processing Purchases of Backpage.com Ads
06/30DJMasterCard Stops Processing Purchases of Ads on Backpage.com
06/30 VISA : Computop and Bitnet Enable Merchants to Accept Bitcoin as Payment
06/24 VISA : The Hill - Discussion
06/23DJNetflix Plans 7-for-1 Stock Split
06/21 VISA : The GBTA Foundation Reports Results of Its GBTA BTI Outlook - Western Eur..
06/19 VISA : The Hill - Discussion
Duration : Period :
Visa Inc Technical Analysis Chart | V | US92826C8394 | 4-Traders
Income Statement Evolution
More Financials