On 27 February 2018, Visa has been battling accusations that it charges tourists excessive fees when they use their cards in the European Union. In the next days, Visa will present its case before the European Commission.
If the company loses the case, it could face a substantial fine (up to 10% of its overall turnover). The fees charged to retailers that accept Visa cards issued outside the EU could generate higher prices for consumer goods and services.
With the EU looking to reduce these costs and improve cross-border trade, the case against Visa is crucial.