Analysis

Swipe Fee Ruling Opens Visa, MasterCard To Wave Of Claims

By Richard Crump (July 7, 2018, 2:26 AM BST) -- A landmark London appeals court decision finding that Visa's and MasterCard's so-called swipe fees are too high could mean the two credit card companies are about to face a wave of costly claims in Britain, but the ruling has left some questions lingering.

In a blow for Visa Inc. and MasterCard Inc., three senior Court of Appeal judges ruled that the firms 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, in breach of European Union antitrust rules.

The decision means four of...

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