January 30, 2014 / 9:10 AM / 4 years ago

EU court adviser rejects Mastercard's appeal on card fees

LUXEMBOURG (Reuters) - An adviser to Europe’s top court rejected on Thursday an appeal by MasterCard (MA.N) against a European Union ban on its cross-border card fees.

An employee stands behind a MasterCard logo during the launch of the international credit card issuer's first ATM transaction in Myanmar, in Yangon November 15, 2012.REUTERS/Soe Zeya Tun

“I propose that the court should dismiss the main appeal and the cross appeals,” Advocate General Paolo Mengozzi said in his opinion.

    Judges at the Luxembourg-based European Union Court of Justice, who follow the advisers’ recommendations in the majority of cases, will rule in the coming months.

    The European Commission had said that MasterCard’s cross-border multilateral interchange fee, levied on retailers’ credit and debit card transactions, violated EU antitrust rules and had to be changed.

    Reporting By Foo Yun Chee; editing by John O'Donnell

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below