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Talk of transaction fee may scare away credit card users

Mastercard Europe believes that the government's rumored regulation of transaction fees paid on domestic credit cards would slow the expansion of credit-card use in Hungary, and contribute to the expansion of the "grey economy", while Visa Europe believes that the most important aspect of any new regulation would be that it uniformly applies to all credit-card issuers, the companies said on Thursday. Portfolio.hu reported on Thursday that the website had obtained a government proposal to fix transaction fees paid on domestic credit cards at the average level of international interchange fees, in order to decrease interbank fees.