UK grocery chain has been awarded a win in a landmark ruling by the UK’s Supreme Court over Visa and Mastercard interchange fees. The court held that “multi-lateral interchange fees infringed EU antitrust rules by illegally restricting competition in the acquiring market.” The reasoning behind this was that the “effect of the collective agreement to set the MIF is to fix a minimum price floor for the [merchant service charge”. It will be interesting to see that since this is considered market abuse, which payments providers will be able to step in to provide a more competitive service to global retail giants.
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