MasterCard to Comply with EC Decision on Cross-Border Consumer Interchange Fees

MasterCard Europe (MCE) has announced that, as of 21 June, it is temporarily repealing its current MasterCard and Maestro intra-EEA cross-border consumer card interchange fees in conformity with the European Commission’s 19 December 2007 decision. MCE said it would continue its dialogue with the Commission services about an interchange fee methodology that the Commission services believe is consistent with the decision. MCE also said it will continue to pursue its appeal of the decision to the European Court of First Instance, which it filed on 1 March. On announcing the decision, Javier Perez, MCE’s president, commented: “We said in December that, although we strongly disagree with the European Commission’s decision, we would comply with it. At the same time, we have solid legal arguments supporting our appeal of the decision to the European Court of First Instance, and we will continue to vigorously pursue that appeal.”

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