The Commission invites comments from interested parties on the commitments offered by Visa Europe to address the Commission’s concerns that Visa’s inter-bank fees for consumer credit card payments in the EEA may violate Article 101 of the TFEU. Visa proposed the commitments in May 2013 in response to the Commission’s supplementary Statement of Objections (“SSO”) issued in July 2012. In the SSO, the Commission expressed concerns in particular on (i) the rules on ‘cross-border acquiring’ in the Visa system, which oblige banks to apply the inter-bank fees of the country where the merchant is located even if the fees in their home country are lower; and (ii) that all inter-bank fees set and implemented by Visa for transactions with consumer credit cards in the EEA currently apply to international and cross-border transactions in the EEA, as well as to domestic transactions in ten EU Member States or EEA countries. To remedy the Commission’s concerns, Visa Europe offered for period of four years (i) to reform its system to enable banks to apply a reduced cross-border inter-bank fee when they compete for clients cross-border, and (ii) to cap its multilateral interchange fees (“MIFs”) for consumer credit card payments at 0.3% of the value of the transaction for cross-border and domestic transactions (a reduction of about 40-60%). If the result of the Commission’s market test of the proposed commitments is positive, the Commission may adopt a decision making the commitments binding on Visa Europe. The Commission has already in 2010 accepted binding commitments from Visa in respect of its consumer debit card MIFs. Source: Commission press release 13/06/2013