Mastercard is fined $650 million by the European Union

Mastercard is fined $650 million by the European Union

The European Commission fined Mastercard 570.6 million euros ($648.3 million) for limiting the possibility for merchants to benefit from better conditions offered by banks elsewhere in the EU. The Commission granted Mastercard a 10 per cent fine reduction for cooperating with its investigation.

Simone
Simone
SûmFigöt
SûmFigöt 1 year

Hope they get investigated for collusion too. Can’t just bully businesses to ban people.

Blaeingr
Blaeingr 1 year

Good... this appears to be just one of the shady practices engaged in by credit card companies.

Paul N
Paul N 1 year

It’s disturbing that no one has asked what the EU plans on doing with the money from MasterCard? Should it not get refunded to cardholders? Very subtle headline.

darren heng
darren heng 1 year

“This decision relates to historic practices only, covers a limited period of time of less than two years and will not require any modification of Mastercard’s current business practices,” the statement said.

drakethesnake
drakethesnake 1 year

EU exists -this app "fuck the EU, just controlling people, migrants, britian, REEEEEEEE." EU does common sense policy -"good that makes sense"

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