Turkish Digest Advertising Rates

Annual Advertising options

Friday, October 10, 2014

EU’s Latest Visa Decision Affects Banks And Consumers Located In Turkey - Anti-trust/Competition Law - Turkey

Turkey: EU’s Latest Visa Decision Affects Banks And Consumers Located In Turkey
Last Updated: 10 October 2014
Article by Hakkı Gedik, Gökhan Eraksoy and Emre Önal

In 26 February 2014, the European Commission announced its decision to render legally binding the commitments offered by Visa Europe in an on-going investigation against its multilateral interchange fees for credit card payments. The investigation was initiated when the Commission sent Visa a supplementary statement of objections in July 2012, informing them that the inter-bank fees set by Visa and related practices may violate EU antitrust rules (Article 101 of the Treaty on the Functioning of the European Union – TFEU). These inter-bank fees are paid by merchants' banks (acquirers) to cardholders' banks (issuers) for transactions with Visa's consumer credit cards.

More:EU’s Latest Visa Decision Affects Banks And Consumers Located In Turkey - Anti-trust/Competition Law - Turkey