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BBC NEWS | Business | Mastercard gets EU fees warning @import "/css/screen/shared/styles.css";@import '/css/screen/shared/toolbar_ukfs.css?v1';@import '/css/screen/shared/toolbar_ifs.css';@import "/css/screen/nol/styles.css?v4";@import "/css/screen/nol/furniture.css?v1";@import "/css/screen/nol/promo.css";@import "/css/screen/nol/business.css";@import "/css/screen/nol/ukfs.css";@import "/css/screen/shared/emp.css";Accessibility LinksSkip to contentSkip to bbc.co.uk navigationSkip to searchAccess keys helpbbc.co.ukbbc.co.uk NavigationSearch HomeTVRadioTalkWhere I LiveA-Z IndexUK versionInternational version|About the versionsLow graphics|Accessibility helpBBC NEWS CHANNELNews servicesYour news when you want itNews Front Page World UK England Northern Ireland Scotland Wales Business Market Data Your Money Economy Companies Politics Health Education Science/Nature Technology Entertainment Also in the news ----------------- Video and Audio ----------------- Have Your Say Magazine In Pictures Country Profiles Special Reports RELATED BBC SITESSPORTWEATHERCBBC NEWSROUNDON THIS DAYEDITORS' BLOG Last Updated: Wednesday, 19 December 2007, 14:19 GMT E-mail this to a friend Printable version Mastercard gets EU fees warning MasterCard has a large chunk of the European card market. Mastercard has been criticised by the European Commission for charging cross-border fees on credit and debit card transactions.The Commission said that the fees unfairly inflated retailers' costs when shoppers used cards in foreign nations.And it warned that if Mastercard did not get rid of the fees within six months, then it would levy daily fines worth up to 3.5% of global turnover.European consumers make about Ј1 trillion of card payments each year.Consumers foot the bill, as they risk paying twice for payment cards Neelie KroesCompetition commissioner The fees - known as multilateral interchange fees - apply to both MasterCard credit cards and Maestro debit cards and range from 0.4% to 1.2% of a transaction.MasterCard is expected to appeal the ruling.It has previously said that the fees play a vital role in facilitating transactions.'Inflated prices'Competition commissioner Neelie Kroes said that the fees make it more expensive for retailers to accept cards and that these costs would inevitably be passed on to customers."Consumers foot the bill, as they risk paying twice for payment cards - once through annual fees to their bank and a second time through inflated retail prices paid not only by cards users but also by customers paying cash," she said. Ms Kroes added she "sincerely" hoped that Mastercard would not offset money lost because of the ruling by increasing prices elsewhere.MasterCard has clearly been abusing its position to bolster its bottom line and retailers and their customers are bearing the cost Kevin HawkinsBritish Retail Consortium It is estimated that about 40% of all payment cards in the EU feature either Mastercard or Maestro logos.Ms Kroes said that other credit card companies should also take note of the Commission's behaviour towards Mastercard and act accordingly.And she said that a probe into fees charged by Mastercard's rival Visa would reopen in 2008.The British Retail Consortium welcomed the decision, saying that the fees cost retailers hundreds of millions of pounds each year."MasterCard has clearly been abusing its position to bolster its bottom line and retailers and their customers are bearing the cost," BRC director general Kevin Hawkins said."The sooner it accepts this ruling the sooner customers will benefit from these cost reductions." 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SEE ALSO Card charges 'push up' EU prices 12 Apr 06 | Business World Cup sponsorship row settled 21 Jun 07 | Business Rising credit card use buoys Amex 23 Jul 07 | Business Brussels challenge to Mastercard 30 Jun 06 | Business OFT shifts Mastercard fee probe 19 Jun 06 | Business RELATED INTERNET LINKS MasterCard British Retail Consortium European Commission The BBC is not responsible for the content of external internet sites TOP BUSINESS STORIES Oil climbs on UK pipeline fears Hundreds of print staff lose jobs UK's super-rich 'getting richer' MOST POPULAR STORIES NOWMOST E-MAILEDMOST READArchbishop leads Zimbabwe protestNew Zealand squid thaw put on iceQ&A: Europe's Galileo projectWendy's chain bought for $2.3bnOdour-free pants for menMost popular now, in detailMOST E-MAILEDMOST READ'Ten hurt' in motorcycle accidentUK's super-rich 'getting richer'New Zealand squid thaw put on iceEurope launches sat-nav testerStrike at oil refinery to startMost popular now, in detailFEATURES, VIEWS, ANALYSIS FROM CLICK >> Taste and decency The complicated business of rating games in the UK Windsor welcome Coldstream Guards return after a tour in Afghanistan Clive James on... ... why it's not easy for the world to right wrongs PRODUCTS & SERVICESE-mail newsMobilesAlertsNews feedsInteractive TVPodcastsBBC Copyright NoticeMMVIIIMost Popular Now | 7,129 pages were read in the last minute.Back to top ^^HelpPrivacy and cookies policyNews sourcesAbout the BBCContact us Advertise with usразделы газовый заправка виниловый дирижабль чиллеры трехмерный презентация центр консультирование snr roulements зубной протез длинный нард время кострома ром доставка антиобледенительные система кайт серфинг гостинницы спб трубогиб восстановление потенция съемный зубной протез черный кофе 5004.10 (крышка) купить каболка пионовая беседка срезанный цвет эдас-134 аденома предст.ж-зы выделенка ленинградский вокзал билет охота клеить 88 люкс холодильник либхер беседка беседка нужный билет контейнерный автозаправка купить широкоугольник иностранный долг mobilux спецобувь оптом стимулирующий лотерея квн холодильник оптом международный конкурс электросчетчик сэт золотник 264-27-00 штендеры эксимер лазер soflens comfort mastercard компания сент-люсии вспучивающийся краска restart плита затенение витрина подгонный компенсатор danfoss цвет камуфлир газонокосилка black decker золотник 264-27-00 управление кострома система дымоудаления сервис alfa laval аэробика очистка подогреватель флажок настольный скрипт рассылка объвлений медикаметозное безоперационное прерывание беременность набор гинекологический mastercard конкурентный анализ вызов врач тройник перех зона ограничение доступ ariston опт зубной боль природа охота враждебный поглощение 100 девчонка одна лифт зиплок детский мир wow барбекю педагогика психология дренаж охота легавый избавиться спам курьерский почта сбор д/полоскания горло зубной боль восстановление потенция организация похорон купить видеокарту ленинградский вокзал билет пассажирский лифт беседка асбест хризотиловый 5004.14 (крышка) госпиталь мэш установка hotbird барбекю купить автотехнику встраиваемый вытяжка универсам красный площадь капсула миаози рассылка база данный прайс эфирный антенна icq купить рак кишка велюкс вкус цвет болен алкоголизмом экг 4у кострома коммерческий аэробика толщиномер конкурентный стратегия жаропрочный фарфор revol lida детский гинеколог автоинформатор теплолюкс александр вертинский. желтый танго лечение головокружение светодиодный экран пазл mastercard