Connect with us

Hi, what are you looking for?

Alive Business PlanAlive Business Plan

Investing

Visa says EU regulator probing fees charged to retailers

(Reuters) -Payments giant Visa (NYSE:V) said on Wednesday the European Commission (EC) had opened a preliminary investigation into fees charged to retailers.

Reuters had exclusively reported earlier this month that EU antitrust regulators were investigating whether fees charged by card giants Visa and Mastercard (NYSE:MA) had a negative impact on retailers.

The EC informed Visa about the investigation on Aug. 30, it said, adding that the company was cooperating with the regulator in connection with the investigation.

Last month, Mastercard also disclosed that the EC had sought documents tied to a broader investigation into alleged anti-competitive behavior in the European Union.

Visa and Mastercard have long dominated the market for payment cards and often been subject to scrutiny and allegations of a duopoly.

Additionally, Visa said that the EC informed it on Oct. 1 that a separate investigation into the company’s incentive agreements with clients had been closed.

This post appeared first on investing.com
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Latest News

    The Gateway Pundit, a far-right website, published a note from its editor on Saturday acknowledging that two election workers in Georgia did not engage...

    Latest News

    New majorities in Congress, particularly when the incoming party has a new leader, offer the rare chance for the institution to take a breath...

    Investing

    JAKARTA (Reuters) -Indonesia has asked Alphabet (NASDAQ:GOOGL)’s Google and Apple (NASDAQ:AAPL) to block Chinese fast fashion e-commerce firm Temu in their application stores in...

    Latest News

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...



    Disclaimer: alivebusinessplan.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 alivebusinessplan.com