The debit and credit card company Mastercard has lost an appeal against an EU veto at Europe's highest court, the European Court of Justice, according to BBC News.

The veto applies to Mastercard's cross-border card fees, after claims it used anti-competitive rates.

Mastercard, the second-largest credit and debit card company after Visa, was investigated last year for the amount it charged people visiting Europe for card transactions.

Judges at the court wrote in their ruling that: "The Court of Justice confirms the judgment of the General Court and thus validates the Commission's decision prohibiting the multilateral interchange fees applied by MasterCard."