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The UK Supreme Court has unanimously upheld the decision of the Court of Appeals in the interchange litigation case, finding the interchange fees set by Visa and Mastercard to be anti-competitive.
Visa, MasterCard, interchange fees, merchants, payments , retailers, card payments, UK
UK, MasterCard, Visa, retail, retailers, Sainsbury’s, Morrisons, Asda, Argos, transactions , multilateral interchange fees, MIFs, Court of Appeal, Europe, European Unions
The Economic and Monetary Affairs (ECON) Committee of the European Parliament has agreed with the Council to set pan-European limits to multilateral interchange fees (MIFs) for lower taxes by the end of 2015.
card, money, transactions , e-payments, merchants, lower, tax. regulation, EC, EP, ECON
Nearly 59% of high-value merchants in the UK, France, Germany, Spain, Italy and Poland will not pass on savings from the proposed EU cap on interbank fees on card payments to their customers, as they would prefer to invest the money into their own business, euractiv.com reports.
high-value retailers, savings, cap, interchange fee, card payments, Visa, MasterCard, American Express, Discover, credit card transactions, European Commission, Payment Services Directive