CREDIT CARD PAYMENTS
May 1st, 2004
BY KEITH NUTHALLRETAILERS should be able to negotiate cheaper bank charges for handling foreign credit card transactions, the European Commission has claimed, after its pressure helped push VISA and Master Card Europe into publishing fees for such purchases. Until now, their complex formulas have been kept under wraps. They cover fees charged by a credit card's issuing bank to a retailer's bank, when from different countries. Said the Commission: "This development is intended to enhance retailers' ability to negotiate the fees with the banks that are part of the ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.