A London tribunal ruled that the default multilateral interchange fees charged by global payments processors Visa and Mastercard to retailers infringe competition law. This decision marks a significant development in the long-running legal dispute over card fees in the UK.
The ruling indicates that the fees, which are a substantial component of the costs incurred by merchants for accepting card payments, are deemed anti-competitive. This could have far-reaching implications for how Mastercard structures its fees and operates within the UK market.
This adverse legal outcome may lead to further legal challenges or regulatory actions, potentially resulting in financial liabilities or mandated changes to Mastercard's business practices. The decision underscores the ongoing scrutiny of interchange fees by regulatory and legal bodies.
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