July 2018

Swipe Fee Ruling Opens Visa, MasterCard To Wave Of Claims

Three senior Court of Appeal judges ruled that Visa Inc. and MasterCard Inc. set the swipe fees, also known as interchange fees — the bank-to-bank charges levied on each credit card purchase — at an unlawful level that restricted competition.

Visa and MasterCard interchange fees restricted competition, English court rules

Visa and MasterCard have lost appeals in their long-running battle against a host of retailers, as an English court found their multilateral interchange fee schemes restrict competition.