UK lawmakers tell Visa and Mastercard to justify fee rises


LONDON (Reuters) – A committee in Britain’s parliament has instructed cost companies Visa and Mastercard to justify current rises of their card transaction charges after the nation’s funds regulator expressed issues.

The Payment Systems Regulator (PSR) instructed the Treasury Committee final week that the will increase in card charges confirmed the market was “not working effectively”, in accordance to correspondence revealed by the committee on Thursday.

(Reporting by Muvija M; Editing by William Schomberg)

Source link