In a move "broadly based on proposed antitrust deals" with Visa (V) and MasterCard (MA), the EU...

|About: Visa Inc. (V)|By:, SA News Editor

In a move "broadly based on proposed antitrust deals" with Visa (V) and MasterCard (MA), the EU proposes a cap on credit and debit card processing fees of 0.2% to be implemented after a two-year "transition period" during which the ceiling will only apply to cross-border charges, FT says. The move is expected to result in a €4.5B reduction in fees, according to the European Commission. V -1.32% and MA -1.66% AH.