UK regulator seeks profit data from Visa and Mastercard
Britain's payment regulator wants Visa and Mastercard to disclose UK financial performance. The move follows concerns over high profit margins in the sector.
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The United Kingdom payments regulator proposed rules requiring Visa and Mastercard to disclose local financial performance. The Payment Systems Regulator (PSR) found profit margins for both firms were higher than expected in competitive markets. The regulator said transparency will help determine if the companies are exercising excessive market power.
The PSR move follows a review of the card schemes' dominance in the domestic market. Both firms must report annual UK-specific revenue and costs to the regulator under the proposal.
