"MasterCard has said it will not lower its interchange fees to zero percent, its current cross-border fee in Europe, but will set a fee especially for Hungary, Napi Gazdaság writes.The EC established that the multilateral interbank fees charged for international payments were anti-competitive. MasterCard lowered its fees to 0% for cross-border transaction following a ruling of the European Commission last month.
In Hungary MasterCard will set its fee independently, after Hungarian banks terminated the agreement that regulates interchange-fees, which are charges levied on retail payments, and currently 1.2% in Hungary, which is considered high in the EU.
MasterCard is under investigation from the competition watchdog GVH for its high interchange fees in Hungary."
Source: Hungary Around the Clock.
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21.07.2008