According to Reuters, the expected EU proposals for interchange fees has been delayed. It was to be released any day, but will now occur within the next few weeks, or perhaps not until next year. We hope this was not caused by Visa’s planned IPO. Could you imagine if the offering took place prior to this important ruling – investors would be denied the opportunity to fully understand its impact. From our U.S. prospective, can you imagine the anguish from European merchants and consumers who are forced to pay upwards of 1.0% in merchant fees? Then again, the rates in the U.S. are 70% higher than that, which raises the reoccurring question of why have the member banks and card associations been able to (as we assert) illegally fix prices and artificially charge such sky-high rates?
[Commentary: WayTooHigh.com, via Reuters report]
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