Mastercard welcomes UK court ruling on interchange fees
Mastercard statement on favorable judgment of Popplewell J. of the UK Commercial Court regarding UK retailer action on Interchange Fees.
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Mastercard is grateful that the Court has found in its favour with respect to the significant issues being heard in this case. The Court recognised the immense benefits that retailers derive from our payment system. In rejecting the retailers’ claims, it found that Mastercard’s interchange fees did not restrict competition and were necessary for the functioning of its payment system. In addition, the Court carefully analysed Mastercard’s interchange rates for the entire period of the claim and found that those rates were significantly below the lawful level of interchange that could have been charged to the retailers for those benefits.
Mastercard views this decision as a confirmation of the legitimacy and importance of interchange in our payment system and a recognition that its value based interchange rates were lawful and compliant with competition law.
We remain committed to our retail partners and will continue to focus on helping grow their businesses and encouraging the adoption of ever more convenient, safe and secure payments.