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UK lawmakers tell Visa and Mastercard to justify fee rises

Visa to invest $1 billion in Africa over 5 years to cash in on e-payments boom
Visa to invest $1 billion in Africa over 5 years to cash in on e-payments boom Copyright  Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
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LONDON - A committee in Britain's parliament has told payment firms Visa and Mastercard to justify recent rises in their card transaction fees after the country's payments regulator expressed concerns.

The Payment Systems Regulator (PSR) told the Treasury Committee last week that the increases in card fees showed the market was "not working well", according to correspondence published by the committee on Thursday.

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