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Short-term gain for Visa and Mastercard creates a silver lining for Open Banking

Whatever side you were on in the Brexit debate, it’s hard to imagine any merchant welcoming reports of the card schemes quintupling fees for cross-border payments between the UK and EU. No longer constrained by the EU’s cap on interchange fees, Visa and Mastercard plan to increase their interchange to 150 basis points (bps) for credit card, and 115...

26 March 2021 /payments /regulation Open Banking