The UK’s Competition Appeal Tribunal sets aside the OFT’s decision on multilateral interchange fees (MasterCard)

Background The Competition Appeal Tribunal ("the Tribunal" or "the CAT") set aside the Office of Fair Trading ("the OFT") decision of 6 September 2005 ("the Decision"), which had alleged that between 1 March 2000 and 18 November 2004 the domestic interchange fee, agreed by the banks in the United Kingdom participating in the MasterCard credit card scheme, infringed Article 81(1) EC and the Chapter I prohibition of the Competition Act 1998 and did not qualify for an exemption under Article 81(3) EC or Section 9 of the Competition Act 1998. The Decision identified two price restrictions : (i) the collective price restriction (resulting from the banks multilaterally agreeing on the interchange fee); and (ii) the extraneous costs restriction (arising from the fact that the interchange

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Dominik Piotrowski, The UK’s Competition Appeal Tribunal sets aside the OFT’s decision on multilateral interchange fees (MasterCard), 10 July 2006, e-Competitions Bulletin Financial services, Art. N° 21097

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