EU Court Rules against MasterCard in Cross-Border Interchange Dispute
Sept. 15, 2014
A European court ruled against MasterCard in its long-running effort to sidestep a ban on cross-border interchange fees. In 2007, the European Commission found that MasterCard’s cross-border interchange fees on credit- and debit-card transactions violated EC antitrust rules, ending an investigation that began in the late 1990s. MasterCard then reached an agreement to cap those fees within the EU, and has abided by that cap since, but appealed the decision.
On Friday The Court of Justice of the European Union validated a lower court decision that upheld the original EC ruling. As a result, the negotiated caps will remain in place.
“We will continue to comply with the decision as we have been doing for a number of years,” said Javier Perez, president of MasterCard Europe. “This means we would maintain our European cross-border consumer interchange fees at a weighted average of 0.2 percent for debit and 0.3 percent for credit.”