FAS might look into Visa, MasterCard

It has been reported to RBC daily that Russia’s Federal Antimonopoly Service might soon start looking into the activity of Visa and MasterCard to check whether the commissions the companies charge for the administration of the cards are actually competitive. The FAS had actually planned to start the investigation as early as two months ago, but no formal pretext presented itself just then. The banks that were unhappy with the growing hidden commissions and charges allegedly refused to place official protests with the FAS.

Now the Service has obtained valid grounds to start investigating the international payment systems Visa, MasterCard, American Express, and Diners Club since Russia’s State Duma deputies asked the head of the Federal Antimonopoly Service Igor Artemiev to conduct an inquiry.

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