Mastercard fined $650m for anti-competitive behaviour

The European Commission has fined Mastercard $650 million for anti-competitive behaviour.
It said Mastercard had prevented retailers using cheaper banking services outside their home country.
Prior to 2015, Mastercard obliged banks receiving card payments to use a fee set in their home country, even if cheaper rates were available elsewhere in the European Union.
Mastercard said the closure of the case was an important milestone.

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