In its decision yesterday, the European Commission concluded that the credit card company Mastercard had infringed EU and EEA competition law. Mastercard was subsequently fined almost €571 million – nearly 78.5 billion Icelandic krónur. The European Commission's investigation began in 2013 and concluded in early 2019. According to the European Commission's decision, Mastercard had, through its terms and conditions, among other things, unlawfully impeded competition by preventing companies from seeking lower service fees in other member states (see diagram below).
In determining the fine, it was taken into account that Mastercard's representatives proved cooperative in the later stages of the case, by confirming the facts of the case and acknowledging infringements of the competition rules of EU and EEA law.
Source – the website of the European Commission
The decision, without confidential information, will be published on Homepage of the Executive Board shortly. Further information can be found in a press release from the Commission.
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