EU threat prompts MasterCard to reduce transaction fees

04/2/2009 | Guardian (London), The

The European Commission has dropped its lawsuit against MasterCard as the company temporarily has lowered its transaction fees on cross-border credit card purchases and repealed increases in its "membership" fee. Some retailers blasted the deal as a "weak compromise" as MasterCard has made it clear that the moves are only temporary pending its appeal. "This will mean lower charges for retailers accepting payment cards, which should in turn be passed on to consumers," said Neelie Kroes, the EU competition commissioner.

View Full Article in:

Guardian (London), The

Published in Brief:

SmartBrief Job Listings for Retail

Job Title Company Location
Retail Merchandise Planner
Bon-Ton Stores
MILWAUKEE, Wisconsin
Director of Change Management
Charlotte, North Carolina
Vice President, Infrastructure and Operations
Neiman Marcus
Irving, Texas
VP Regional Manager/Regional Store Manager
Knoxville, Tennessee
Sales and Merchandising Manager
norwalk, Connecticut