Credit cards often too expensive, Brussels says

Many European citizens and businesses are paying too much for using credit card systems like Visa and Mastercard because competition in the sector is being hampered, the European Commission said on Wednesday (12 April).

A commission inquiry into the payments sector, started in June 2005, revealed strong concerns over lack of competition in the market, particularly in the payment cards industry.

Brussels is aiming to establish a single market in payments and a Single Euro Payment...