European Commission fines Mastercard 570 million

Baku. 22 January. REPORT.AZ/  The European Commission has fined the card scheme Mastercard €570 566 000 for limiting the possibility for merchants to benefit from better conditions offered by banks established elsewhere in the Single Market, in breach of EU antitrust rules, the Commission said in a statement.

“By preventing merchants from shopping around for better conditions offered by banks in other member states, Mastercard’s rules artificially raised the costs of card payments, harming consumers and retailers in the EU,” European Competition Commissioner Margrethe Vestager said in a statement.