MEPs have backed plans to cap card payment fees charged to shops by credit card giants Mastercard and Visa in a move aimed at saving €6 billion per year.
In a vote of the parliament's economic affairs committee on Thursday (20 February), deputies backed a proposal to limit the bank’s fee for credit card payments at 0.3 percent of the transaction value.
They also set a cap of €0.07, or 0.2 percent of the transaction value, for debit card payments. The restrictions are to enter int...
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Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.