01:04 PM EST, 11/06/2024 (MT Newswires) -- (Updates with details throughout)

The amounts Visa (V) and MasterCard ( MA ) charge retailers in the EU is under probe by the bloc's regulators who are evaluating whether such fees hurt businesses, Reuters reported Wednesday.

According to the report, the European Commission sent a questionnaire about Visa and Mastercard ( MA ) to retailers and payment service providers in September, asking them to respond by October.

The questionnaires can help regulators develop an antitrust case, which, if successful, could result in a fine of up to 10% of the company's global turnover, the report said.

Retailers have previously complained about the so-called scheme fees the two firms charge over card payments, as well as a lack of transparency on the charges.

Visa, MasterCard ( MA ), and the European Commission did not immediately respond to requests 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.)

Price: 305.97, Change: +12.68, Percent Change: +4.32