Supreme Court rules against Mastercard and Visa in interchange fees battle

Visa and Mastercard could be set to pay billions in compensation to some of the UK’s top retailers following a court ruling which found that the two payment companies had breached competition laws.

The Supreme Court today (17 June) unanimously upheld the conclusion of the Court of Appeal that the multi-lateral interchange fees (MIFs) – that are paid by retailers for the processing of card transactions – restricted competition.

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