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Visa tones down ambitious 'Multi' project
Visa Multi, a Visa EU project set up to establish multi-industry, multi-application payments services, has had its remit substantially toned down following a meeting of the association's executive management committee, according to senior payments industry officials.



Interchange fees blasted by Australian regulator
Australia's big banks face a new assault on their control of the country's payments networks, following the release of a government report on the costs of credit and debit cards.



Barclaycard fronts shopping portal
Barclaycard, the pan-European credit cards issuer, has entered into a £30 million joint venture with Japanese investment bank Nomura, to launch a Barclaycard-branded Internet shopping portal.



UK price war steps up
Egg, the UK online financial services provider from Prudential, has slashed its introductory rate to 0 percent APR on purchases for the first six months, following a similar move by Capital One's UK credit cards arm in September.



MBNA adopts virtual cards solution
MBNA, the US-based credit cards issuer, has adopted a virtual cards solution for online purchases in an effort to boost customer confidence in e-commerce.



More flak for Visa over EC inquiry
The European Commission (EC) has sent a warning to Visa International that its interchange fees are restrictive, in yet another blow to the payments association following similar findings in both the UK and Australia.


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