The European Commission has accepted a settlement with Visa and Mastercard regarding interchange fees merchants in the European Economic Area (EEA) pay for sales on credit, debit, and prepaid cards issued outside the EEA. Visa, Mastercard, Electron, Maestro, and V Pay card brands are covered in the settlement. EEA merchants will pay roughly 40% less to accept these card payments. The settlement will bring Multilateral Interchange Fees (MIF) paid on card payments by non-EEA cardholders in line with those charged for sales tied to cards issued by banks within the EEA. Those fees are covered b...