The UK OFT finds collective agreement between banks setting the multilateral interchange fee contrary to both EC and national competition provisions (MasterCard)

On 6 September the UK Office of Fair Trading issued a decision concluding that the collective agreement between members of MasterCard UK Members Forum setting a fallback multilateral interchange fee infringed Article 81 EC and Chapter I of the Competition Act 1998. The Decision only concerns MasterCard cards in so far as they are used for domestic payment transactions. On the date of entry into force of the Competition Act (prior to the abolition of the UK notification and authorisation system) MasterCard notified a set of agreements to the OFT which included a collective agreement between members of MasterCard UK

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Authors

  • Freshfields Bruckhaus Deringer (London)
  • King’s College (London)

Quotation

Alex Potter, Alison Jones, The UK OFT finds collective agreement between banks setting the multilateral interchange fee contrary to both EC and national competition provisions (MasterCard), 6 September 2005, e-Competitions Bulletin September 2005, Art. N° 262

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