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Contenu article Bulletin Payant Abstract - type [D]

The UK High Court concludes that multilateral interchange fees were not restrictive of competition and can be exempted under article 101(3) (MasterCard)

Key words

Anticompetitive practices - Agreement - Exemption (individual) - Ancillary restriction - Damages - Financial services

On 30 January 2017, the United Kingdom (UK) High Court handed down a judgment in favour of MasterCard in a damages claim brought by UK retailers (including Next, Acadia Group and Asda). The claimants alleged that MasterCard’s multilateral interchange fees (MIFs) were illegally restrictive of competition, claiming GDP 437 million in damages. MIFs are charges that are paid by a retailer to a cardholder's bank each time a cardholder makes a credit or debit payment. MasterCard argued that MIFs cover the costs of maintaining card systems. Following an investigation, the European Commission (Commission) decided in 2007 that MasterCard's EEA MIFs restricted competition between acquiring banks and inflated costs of card acceptance without generating countervailing efficiencies. The

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Abstract

Quotation :

Ilan Sherr, The UK High Court concludes that multilateral interchange fees were not restrictive of competition and can be exempted under article 101(3) (MasterCard), 30 January 2017, e-Competitions Bulletin January 2017, Art. N° 83575

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