The Commission has fined Visa €10 200 000 for a serious infringement of the EC Treaty and EEA Agreement rules on restrictive business practices. The Commission found that the exclusion of Morgan Stanley from Visa membership restricted competition in the provision of credit card acceptance services to merchants in the United Kingdom. Morgan Stanley had concrete plans and expertise to contribute to more efficient competition and generate positive effects on prices and the quality of service in a highly concentrated market.
Commissioner Kroes said: "The payment cards industry plays a key role in the creation and functioning of the single market for payments. The Commission will not tolerate anticompetitive behaviour and will intervene if companies are illegally refused membership of payment card networks".
Press release
Commissoiner Kroes: introductory remarks
FAQ
© Graham Bishop
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article