Finextra News : Visa claims UK interchange victory

30th November 2017
Finextra News
Finextra News
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Visa is looking to play nice with UK retailers after scoring a High Court victory in a long-running battle over interchange fees.

In 2013 a group of high street retailers launched legal proceedings in the UK, claiming that Visa’s UK and cross-border European interchange fees were contrary to competition law.

The card giant is now claiming victory after a high court ruling that its UK fees are lawful and is looking to put the matter to bed, urging merchants to work with it to “create the future of digital commerce”.

In an open letter, Visa says: “We hope the Court’s decision will accelerate the collaboration between retailers and Visa and will allow us to address the greatest disruption – and potentially the greatest opportunity – facing the merchant community in Europe today: the digitisation of commerce.”