Following lengthy negotiations with the European Commission (Commission), MasterCard announced that it had agreed to change the way it calculates its cross-border multilateral interchange fee and to adopt other measures to improve the transparency of their system. The interchange fee is the fee charged for processing a payment card transaction. In December 2007, the Commission took a decision that MasterCard’s multilateral interchange fee scheme breached Article 81(1) EC. Although MasterCard appealed this decision to the Court of First Instance, it has taken measures to amend its interchange system. The Commission has said it will monitor the new charging system carefully and will continue to examine the behaviour of other payment card operators.