Eurocommission fined MasterCard for an amount of more than 570 billion euros.

It was also stated that Eurocommission was offered to fine MasterCard for a larger amount, although the fine was decreased by 10% because of the company’s collaboration with the investigation process.

It’s also worth noticing that Eurocommission started the investigation in 2013. Several claims were made in 2015 due to the MasterCard’s payment rules prohibit banks offering alternative and lower tariffs to sellers which operate in other EU countries than buyers.

Mastercard
Source:virtualpayments.ru


Therefore, according to Eurocommission, MasterCard violated antitrust law by setting an artificial minimal cost of its services for cards issued in other EU countries.

Meantime, MasterCard changed its rules about automatic funding of paid subscriptions. The international payment system will force sellers getting customers’ agreement for periodic payments. The trick is that some sellers offer a free trial of their products, and an automatic payment is usually done without an additional agreement form the client to pay. That is now prohibited.

“Some consumers get a perfect chance to check out a product with a free trial before making the decision to buy it. Although, sometimes the free trial can become a constant subscription which is hard to cancel. That could be unpleasant and expensive for clients”, the company’s official explained.

Besides getting an additional agreement from the customer to get a certain amount at a certain time, sellers will be also forced to create a detailed instruction how to cancel the subscription.
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