European Retailers Urge EU Crackdown on Visa, Mastercard Fees

Europe's largest retailers and online companies have urged the European Commission to take action against Visa and Mastercard, accusing the two U.S.-based payment giants of charging high and opaque fees that harm competition and the eurozone's economy. The companies process about two-thirds of card payments in the eurozone and have reportedly increased their fees by nearly 34% between 2018 and 2022 without corresponding service improvements, according to a 2024 Brattle Group report. Retailers argue that the complex and non-transparent fee structures prevent merchants from understanding or challenging charges, prompting calls for EU antitrust enforcement, fee caps, greater transparency, and stronger regulatory oversight. The complaints have also spurred EU interest in developing a digital euro to reduce reliance on American payment providers, although legislative progress has been slow. The letter sent to top EU officials was signed by major industry groups and companies including Aldi, Amazon, Ikea, H&M, and eBay. Visa defended its fees as reflecting the value of its services, including security and consumer protections, while Mastercard declined to comment.