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 Mastercard faces ?230m fine as EU flexes muscles

MasterCard, the world's second-largest credit card group, could face a fine of up to €230m (£159m) after the EU accused it yesterday of anti-competitive behaviour by fixing the fees millions of retailers must pay for accepting its payment cards.

The European commission first accused the group and its bigger rival, Visa, of restrictive practices through pre-determining "cross-border interchange fees" - the price paid by retailers to issuing banks - in September 2003.

MasterCard, which issues 45% of all credit and debit cards in Europe, is also being investigated by Britain's Office of Fair Trading.


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