V Visa Inc

--Visa Inc. plans to increase interchange fees for purchases made by U.K. customers from most of Europe, joining rival credit card company Mastercard Inc., Sky News reports.

--Interchange rates for online credit card transactions will undergo a fivefold increase to 1.5%, while for debit card payments fees will increase to 1.15% from 0.2% at present, according to Sky News.

--Visa is expected to give clients six months to implement the increased fees, which will largely impact transactions with EU-based companies in the sectors of retail, hospitality and travel, Sky News reports.

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(END) Dow Jones Newswires

March 16, 2021 12:22 ET (16:22 GMT)

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