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Information Mastercard to pay a fine of us $ 650 million from the EU

Title :  Mastercard to pay a fine of us $ 650 million from the EU
Lasting :   11,6
User :  Nishicage
Date of publication :   2019-08-11
Views :   738
Liked :   162
Downloaded once :   433

Frames Mastercard to pay a fine of us $ 650 million from the EU

Description Mastercard to pay a fine of us $ 650 million from the EU

The European Union’s the competition Commission has a Mastercard €increase of $ 570 million (648 million dollars), a monetary penalty, the fees in violation of antitrust laws, according to an online statement, published on Jan artificially. 22. Mastercard forcing the dealer to pay fees in your country of residence to places of residence by their access to the banks with a lower cost result, the else in the EU.

Also read: non-governmental hubris in the developing countries, to Hurry Hyperbitcoinization

Mastercard has, it Limits the competition in Europe

Brussels has now ruled that Mastercard’behaviour s when also limited competition within the continent and the higher costs for the retailer and the customer. According to the statement, the EU Commissioner for competition Margrethe Vestager dealer&rsquo noted that Mastercard’shall be limited to the actions; access to better opportunities, which is also within the block.

Vestager said: &the artist;and thus, prevents the dealers shop around for better terms from banks in other member States, Mastercard’s rules, which are artificially inflated, will not infringe upon the costs of payments by card, the consumer and the retailers in the EU.”

The EU’s recent decision illustrates how the inheritance of payment systems to conspire with the banks to to hidden costs to the customers. It is the second decision, the cartel, against the financial institution in the five months, which was due to a 6.2 billion $EU fine against Mastercard, Visa and other financial companies in september.

The investigation led to looking at the last buses, the cost of interchange – that is, the cost for the traders, the customers who buy with a credit card. Mastercard was to be found in violation of the EU’s right, the competition until December 2015.

Mastercard is Playing Down the rule

Well, that the judgment was not retrospective, Mastercard has claimed, you've kept to the rules during an earlier phase of the investigation. The second largest brand of the card in the European economic area finally realized the violation, however, and had been reduced to 10% of the fine, cooperation with the investigation. The company explains:

This decision relates to historic practices only covers a limited period of less than two years, and requires no change to the card, Mastercard’s, the current practices of the company.

L' €570 million of value was arrived when the consideration of the period of the infringement, the volume of transactions that are there, and Mastercard’s on the level of cooperation with the investigation. In July 2018, Brussels, Google proposed to restrict with $ 5 billion in buses for the competition, in the block, the manufacturer force you to do the Chrome and Google search the default search tools in Android devices.

According to Mastercard’s scheme, the banks offer credit cards, the services in accordance with the common brands Mastercard and Maestro. Mastercard acts as a platform on which the Central banks provide, the holder of a credit card, ensure the completion of the card, the payments and transfer of funds for the level of detail that’s from the bank.

La Kryptogeld

The disclosure of Mastercard’s the conspiracy with the banks, the overload of customers is another nail in the coffin for the currencies fiduciary deposits and evaluation of peer-to-peer crypto currencies like bitcoin, the safe financial institutions and the greed of the company.

Retailers are using virtual currencies such as bitcoin have the ability to reduce the cost of the credit card are deducted in the rule, from 0.5 percent to 5 percent, more than the average of 3.50 $for each transaction. In contrast, cryptocurrency transfers are very low – usually in less than one percent for bitcoin transfer types, no matter in what amount.

What do you think of Mastercard’s the violation of the EU's repeated legislation? Let us know in the comments below.

Comments Mastercard to pay a fine of us $ 650 million from the EU

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