On 17 June 2020, the Supreme Court unanimously upheld an earlier Court of Appeal ruling that Mastercard and Visa’s multilateral interchange fees (MIFs) restricted competition contrary to Article 101(1), resolving several disputes between the card schemes and retailers that have run in the UK courts since as early as 2012, and have at times resulted in conflicting outcomes. The Supreme Court’s judgment represents a significant step towards the end of the long-running MIFs saga . It also raises three points of more general interest: (i) the standard of evidence required in order to benefit from the so-called “efficiencies defense” under Article 101(3); (ii) the correct application of the “fair share” test under Article 101(3); and (iii) the degree of precision required by a defendant to
The UK Supreme Court confirms that two payment platform providers’ fees restricted competition (Visa / MasterCard)
This article has been nominated for the 2021 Antitrust Writing Awards. Click here to learn more about the Antitrust Writing Awards.
Access to this article is restricted to subscribers
Already Subscribed? Sign-in
Access to this article is restricted to subscribers.
Read one article for free
Sign-up to read this article for free and discover our services.