UK Watchdog to review rising visa and mastercard fees

By Alex Davidson (June 21, 2022, 2:59 p.m. BST) – The payments watchdog said on Tuesday it plans to look into why Mastercard and Visa have raised card fees payable by banks providing services to cardholders cardholders and merchants and whether it harms competition.

The payments systems regulator will focus on fee hikes by the two companies which account for 99% of debit and credit cards in the UK, particularly on cross-border transactions with Europe after Brexit.

“We have defined what we will assess in these reviews, which will then inform any decision on what steps we may need to take to promote…

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