Visa proposes to cut inter-bank fees

Also willing to reform rules in order to facilitate cross-border competition

Commission Vice President Joaquín Almunia today welcomed Visa Europe's proposals to significantly cut its inter-bank fees for credit card payments and to reform its rules in order to facilitate cross-border competition. These proposals come following a supplementary statement of objections sent to Visa by the Commission in July 2012.

As Vice President Almunia, in charge of competition policy, stated: "It is excellent news that Visa decided to submit these commitment propos...

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