Mastercard and Visa may have to cap their cross-border interchange fees (Image: GETTY) Britain's payment regulator has set out proposals to cap cross-border interchange fees charged by Mastercard and Visa after raising concerns that they have been hiked to "an unduly high level". The Payment Systems Regulator (PSR) said a cap would protect UK business from overpaying on fees charged on transactions made between the UK and European single market. The group said UK firms paid an extra £150million to £200million last year alone due to significant fee increases pushed through by the card firms in 2021 and 2022. The PSR said its market…
