The EC stopped investigating Visa Europe’s debit card transaction fees after charged by Visa proposed that it substantially reduce its fees. In April, 2010, Visa Europe offered to cap for the next four years the “maximum weighted average for its multilateral interchange fees (MIF) at .2% of the transaction.” The customer’s bank charges the MIF for handling the transaction to the merchant’s bank, which then gives the merchant the transaction minus the MIF. The merchants then offset the MIF by marking up the price of the goods and passing the cost off to the consumer. Visa’s capping the fees is intended to place the MIF at a level that would leave merchants indifferent to the means of payment.