Twelve years after its initial complaint against Visa and MasterCard, EuroCommerce is lodging a new complaint against Visa Europe.
The European retail association argues that the fees set by Visa and its member banks and imposed on retailers, constitute an infringement of European competition law. It was the imposition of such that led the European Commission to rule against MasterCard in December 2007. EuroCommerce calls for the same robust decision against Visa.
GRTU director general Vince Farrugia said: “We are confident that the European Commission will deal with this new case in the same way they have decided on MasterCard in 2007. In the end, all consumers will benefit from a better functioning market.
“We also expect that the regulator in Malta - the Malta Financial and Services Authority, to start acting on these issues as Maltese traders and retailers continue to suffer the burdens as if the European Commission does not exist.”