Mastercard statement on Favourable Judgment regarding UK retailer action on Interchange Fees
London – January 30, 2017 – Mastercard is grateful that the Court has found in its favor with respect to the significant issues being heard in this case. The Court recognized 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 analyzed 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.
Read full Press Release here: http://newsroom.mastercard.com/press-releases/mastercard-statement-on-favourable-judgment-of-popplewell-j-of-the-uk-commercial-court-regarding-uk-retailer-action-on-interchange-fees/
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