Visa Inc. and MasterCard Inc. ended nearly two decades of European Union antitrust scrutiny with a pact that requires them to reduce fees for foreigners shopping in the region.
The EU dropped its final investigations months after fining MasterCard 570.6 million euros ($636 million) in another probe over payment rules. The April 29 settlement, which rubber-stamps a draft accord from December, sees the duo reduce levies for non-European card-holders charged on purchases in the 28-nation bloc.
“This, together with our January 2019 decision on MasterCard’s cross-border card payment services, will lead to lower prices for European retailers to do business,...
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