Lib Dem MEP welcome Mastercard review

10.03.00am UTC (GMT +0000) Thu 6th Jul 2006

Liberal Democrats MEP Sajjad Karim has welcomed the review by the European Commission that is considering if Mastercard may have violated European Union anti-trust rules by restricting competition between banks.

Sajjad, Liberal Democrat spokesperson on International Trade in the European Parliament, said that while the Commission had yet to decide if Mastercard had broken EU rules he welcomed the ongoing investigation.

Sajjad Karim MEP has welcomed the review of Mastercard

Speaking from Strasbourg this week Sajjad said "In its Supplementary Objections the Commission takes the preliminary view that MasterCard restricts competition between member banks by pre-determining a minimum price retailers must pay for accepting MasterCard and Maestro branded payment cards."

"The Commission's preliminary view is that such behaviour is contrary to the EC Treaty's ban on restrictive business practices and if that proves to be the case it is therefore highly likely that this can only benefit North West consumers who may well be paying more if these practices are being allowed to continue unchecked."