• AllayPay's Editorial Team

Visa, MasterCard Finalize EU Card Probe With Fee Cut Pledge

Visa Inc. and MasterCard Inc. ended nearly two decades of European Union antitrust scrutiny with a pact that requires them to reduce fees for foreigners shopping in the region.

The EU dropped its final investigations months after fining MasterCard 570.6 million euros ($636 million) in another probe over payment rules. Monday’s settlement, which rubber-stamps a draft accord from December, sees the duo reduce levies for non-European card-holders charged on purchases in the 28-nation bloc.

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