LONDON, March 16 (Reuters) - Visa and Mastercard can challenge a judgment that found their default multilateral interchange fees charged to retailers infringe competition law, London's Court of Appeal
Mastercard, Visa May Appeal UK Court Ruling on Merchant Fee Antitrust Breach
UK Court Ruling and Ongoing Legal Battle
Background of the Case
LONDON, March 16 (Reuters) - Visa and Mastercard can challenge a judgment that found their default multilateral interchange fees charged to retailers infringe competition law, London's Court of Appeal ruled on Tuesday, in a long-running legal battle over the charges.
Competition Appeal Tribunal Decision
The Competition Appeal Tribunal ruled last year, in linked lawsuits brought by hundreds of merchants, that Visa and Mastercard's multilateral interchange fees breached European competition law.
Significance of the Ruling
The merchants' lawyers previously said that was the first time Visa and Mastercard's commercial card and inter-regional multilateral interchange fees had been found to infringe competition law.
Appeal and Reactions
Court of Appeal Grants Permission
But the Court of Appeal granted permission to appeal on Tuesday, in a decision welcomed by Mastercard and Visa.
Statements from Visa and Mastercard
The companies said in separate statements that interchange plays an important role in a digital payments ecosystem and provides benefits to consumers, businesses and banks.
Claimants' Perspective
Cian Mansfield, from law firm Scott+Scott, which represents the claimants, said: "We are confident that we will resist the application successfully at the substantive appeal".
(Reporting by Sam Tobin; Editing by Alexander Smith)
