10:10 AM EDT, 05/15/2025 (MT Newswires) -- (Updates with response from a Visa spokesperson in the fourth and fifth paragraphs.)

Visa (V) and Mastercard ( MA ) face calls from European retailers for EU regulators to rein in allegedly high fees, Reuters reported Wednesday, citing a letter from retail groups.

"International card schemes have been able to increase their fees without competitive challenge or regulatory scrutiny," the letter said, according to the report. "They have also rendered their system of fees and rules so complex and opaque that players are unable to understand, let alone challenge, what they are paying for and why."

The letter urged the EU to act under the bloc's antitrust regulations and amend rules on interchange fees through price controls, among other measures, the report said.

"Visa's fees reflect the immense value that we provide to financial institutions, merchants and consumers in Europe," a Visa spokesperson told MT Newswires.

The value includes security and fraud prevention, operational resilience and reliability, consumer protections and "innovative" products and services, the Visa spokesperson said.

Mastercard ( MA ) didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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