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Visa - argues the payments are needed to help consumers (Photo: Lotus Head)

Credit card company fears commission move

The European arm of the world's largest credit-card company has said banning transaction charges would harm consumers and destroy a European Union revamp of payment systems.

Visa Europe is seeking to sway Neelie Kroes – the EU competition commissioner - who will present the final result of her investigation into the payment-card industry on 31 January.

Peter Ayliffe – the head of Visa Europe - told journalists in Brussels on Monday (15 January) that he fears Europeans will stop us...

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Visa - argues the payments are needed to help consumers (Photo: Lotus Head)

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