London Tribunal Rules Visa and Mastercard’s Fees Violate Competition Law

Visa and Mastercard face renewed legal scrutiny after a London tribunal ruled their multilateral interchange fees breach European competition law. The default charges, imposed on retailers for card transactions, were deemed excessive and non-transparent. The Competition Appeal Tribunal unanimously sided with merchants following a decade-long battle.

Scott+Scott, representing claimants, hailed the decision as groundbreaking. "This is a significant win for merchants burdened by Visa and Mastercard's unlawful fee structures," said David Scott, the firm's global managing partner. The ruling marks the first judicial finding that both commercial card fees and cross-border interchange fees violate antitrust provisions.

The judgment confirms the payment networks restricted competition through centralized fee-setting. This development comes as digital payment alternatives gain traction, though no specific cryptocurrencies were implicated in the proceedings.