A Mastercard logo is seen on a credit card in this picture illustration August 30, 2017. REUTERS/Thomas White/Illustration

BRUSSELS (Reuters) - Mastercard MA.N said on Tuesday that an EU antitrust fine of 570.6 million euros ($648.3 million) would be taken as a charge in the fourth quarter of 2018, calling the closure of the case an important milestone for the company.

“This decision relates to historic practices only, covers a limited period of time of less than 2 years and will not require any modification of Mastercard’s current business practices,” it said in a statement.

The European Commission said earlier on Tuesday that it had fined for limiting the possibility for merchants to benefit from better conditions offered by banks elsewhere in the European Union.