Visa, Mastercard offer to cut tourist card fees in EU antitrust probe
Updated : November 23, 2018 05:33 AM IST
Even after the reduction, such fees which are paid by merchants when they accept card payments and are a lucrative source of revenue for banks, will still likely be higher than those for EU cards, they say.
The European Commission has battled for more than a decade to reduce such costs and encourage cross-border trade and online commerce. Regulators across the Atlantic have also frowned on such practices.