Fees setback for MasterCard

Europe’s second-highest court has rejected MasterCard’s challenge to a European Union ban on its cross-border credit and debit card fees.

The court ruling could mean competition regulators pursuing other card companies, such as Visa, over its fees.

The EU ban is intended aims to break down barriers to e-commerce and cut costs for Europe’s businesses.

Mastercard said it would appeal against the ruling.

“It is our intention to appeal as soon as we’ve analysed the more than 60-page judgement,” MasterCard President Javier Perez said in a statement. “We will likely continue to discuss with the Commission what would be the best way forward.”

For the time being, MasterCard will continue to apply reduced cross-border fees imposed since 2009 in a bid to avoid penalty payments for not complying with the 2007 decision, Perez said.

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