The European Union renews the pressure on the visa, MasterCard due to the fee practices

European organizers again Visa Inc. (NYSE:Fifth) And MasterCard Incorporated (NYSE:M). The latest round of scrutiny In the chart fees, the fees imposed on banks that facilitate cards payment through their networks.

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The new questionnaires that the committee sent seek clarity on three major concerns, including the degree of retailers enjoyed by retailers to accept Visa and MasterCard, the value of the fees they pay, and the transparency of these fees. According to Bloomberg, although the investigation of its initial phase, it may lead to official procedures and penalties amounting to 10 % of the company’s annual revenues.

The new scrutiny comes amid the comments of the European Central Bank President Christine Lagarde, which supported the launch of the digital euro currency and reduced the bloc’s dependence on payment networks abroad.

While Visa Inc. (NYSE: V) defends its prices by referring to security, minimal fraud, and service without interruption, Mastercard Incorporated (NYSE: MA) justifies the fees by emphasizing the choice of consumer and global reliability. The continuous nature of the investigation prevents the committee from hanging more.

Earlier, in 2019, MasterCard Incorporated (NYSE: MA) was fined 646 million dollars to artificially increase cards payment costs. Last year, a $ 30 billion settlement that the two companies reached was rejected by an American federal judge. Adding the new European Union audit to the list may intensify the invested caution against Visa Inc. (NYSE: V) and MasterCard Incorporated (NYSE: MA). As of now, both shares hold the categories of consensus, with 10.39 % and 10.72 % ups in the upholstery.

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