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The Boston Globe

Business

EU says Visa will lower some fees

BRUSSELS — The European Union says Visa has agreed to reduce some credit card payment fees significantly to address concerns raised by the bloc’s antitrust authority.

The European Commission, which acts as the competition watchdog for the 27­nation bloc, says Visa proposes to reduce its inter-bank fees for credit card payments to 0.3 percent of a transaction’s value — a reduction of about 40 to 60 percent.

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