MasterCard faces card fees investigation

(Source: Getty)

The European Comission (EC) has announced that regulators are looking into MasterCard's fees for non-Europeans as possibly being in violation of antitrust rules. The EC said that "the inter-bank fees are generally passed on to the merchants, leading to higher overall fees for them. Ultimately, such behaviour is liable to slow down cross-border business and harm EU consumers". It stated that an investigation would see rules proposed on card fees before the Summer.