Here's Why Britain's Regulatory Watchdog Is After Visa, Mastercard

Britain looks to probe the card charges imposed by Visa Inc V and Mastercard Inc MA, focusing on the post-Brexit jump in processing fees and cross-border transaction levies.
The regulator will conduct two reviews on the companies accounting for 99% of U.K. debit and credit card payments.
Visa and Mastercard have increased these fees fivefold since Brexit.
The U.K.’s Payment Systems Regulator sought to “understand the rationale behind these increases and whether they are an indication that the market is not working well.”
The EU removed the cap on transaction fees between the U.K. and Europe after Brexit, permitting card operators to increase cross-border payment charges.
The first review will examine the reason behind the fivefold post-Brexit hike in the cross-border interchange fee.
The second review is into fees for services allowing retailers to accept card payments.
Price Action: V shares traded 0.10% higher at $190.15 premarket on the last check Monday.
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