German Retail Group Files Credit Card Fees Complaint

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00023247-german-retail-group-files-credit-card-fee/

Germany’s HDE association of retailers said on Thursday it had filed a complaint with the country’s cartel office aimed at forcing Visa and MasterCard to cut their fees for credit-card transactions. HDE legal expert Stefan Schneider said the current system was preventing more widespread use of credit cards, which account for just 5 percent of purchases in German shops.

“We have asked the cartel office to rule that the lack of transparency in the Visa and MasterCard rules is a breach of competition regulations and to bring an end to the current practice of interchange fees,” Schneider said.

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