Hungarian Competition Authority fines MasterCard HUF 88 mln
pixabay
The Hungarian Competition Authority (GVH) fined MasterCard Europe SA HUF 88 million on charges of abusing its market position, Hungarian news agency MTI reported today.
According to the to authority, MasterCard set interbank commissions in 2011-2013 in a way that would squeeze out competitors, MTI reported. MasterCard set its commissions with the knowledge of a cap the European Commission placed on peer VISAʼs interbank commissions from February 2011, thus further reducing already weakened competition on the market, GVH said, according to MTI.
GVH said it considered as a mitigating factor when determining the amount of fine that MasterCard was not a repeat offender, MTI reported.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
Cordia’s Marina City Project Begins
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
