Visa, Mastercard fees at the center of EU antitrust probe – report

EU antitrust regulators are asking retailers and payment services providers whether the feeds charged by Visa (NYSE:V) and Mastercard (NYSE:MA) are hurting their businesses, according to a media report on Wednesday.

The European Commission, which enforces European Union rules, sent questionnaires to the parties in September, giving them until October to respond, Reuters reported, citing a document that it has reviewed.

The investigation centers on so-called scheme fees charged in recent years as well as how transparent the two companies are regarding the fees. The EU usually uses such questionnaires to put together an antitrust case. If the probe is successful, the EU can impose fines of as much as 10% of a company’s global revenue, Reuters said.

Specifically, the questions ask if the “the continuous introduction of new fees and deletion of existing fees” hurt their business in 2016-2023 and how much they’re told about the fees, Reuters said.

The report did not seem to hurt the two companies’ stocks. Mastercard (NYSE:MA) stock rose 3.2% and Visa (NYSE:V) climbed 4.2% in midday trading on Wednesday.