Visa Europe Settles EU Antitrust Probe With Credit-Card Fees Cut

Visa Europe Ltd.’s pledge to reduce credit-card fees was accepted by European Union regulators in a settlement that ends an antitrust probe that dates back more than a decade.

Visa Europe, operator of the EU’s largest payment-card network, will cap so-called interbank fees for processing credit card payments to 0.3 percent of the value of the transaction for cross-border and domestic payments in Europe for four years, from Jan. 1, 2015. The commitment will reduce card charges by 40 percent to 60 percent.