MasterCard, Visa Lose UK Appeal In Swipe Fee Antitrust Suits
Law360, London (July 4, 2018, 12:17 PM BST) -- Credit card companies Visa and MasterCard set fees at an unlawful level that restricted competition, a London appellate court ruled Wednesday, in a landmark judgment in favor of a group of British retailers that could revive lawsuits potentially worth billions of dollars against the card firms.
Supermarkets had argued that swipe fees imposed by Visa Inc. and MasterCard Inc. infringed European Union antitrust rules. (AP)
The cases will now go back to a specialist competition tribunal which will review the size of potential damages and whether the credit card companies can claim that an exemption applies to the fees.
Supermarkets including J Sainsbury...
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