MasterCard Appeals EU Interchange Fee Ruling

Law360, New York (March 3, 2008, 12:00 AM EST) -- MasterCard Europe has appealed a December ruling by the European Commission that the company's “interchange fees” are illegal and anti-competitve.

The company filed its appeal with the European Court of First Instance in Luxembourg. MasterCard Europe President Javier Perez said in a statement that the company“believes it has strong grounds for its request.”

“MasterCard firmly believes that market forces, not regulation, should drive key decisions such as the setting of interchange fees and retailers' choices over which forms of payment to accept,” Perez said.

Letting the...
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