City Of London
UK’s Payment Regulator to Review Rising Visa and Mastercard Fees
- Payment Systems Regulator sets outs terms of market reviews
- Visa and Mastercard account for 99% of card payments in UK
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The UK’s Payment Systems Regulator will focus a pair of market reviews on the rising card fees charged by Visa Inc. and Mastercard Inc.
The regulator will examine whether higher charges levied on merchants are an indication of market failure, according to a statement Tuesday. One review will look at scheme and processing fees on the networks while another will examine cross-border interchange charges -- the tolls charged on some overseas transactions.