The UK Supreme Court recently handed down its eagerly anticipated Judgment in respect of unlawful interchange fee claims against MasterCard and VISA, following almost a decade of litigation. [1] The Judgment provides welcome clarity to merchant retailers as to the unlawfulness of MasterCard’s and VISA’s (together, the “Schemes”) multilateral interchange fees (“MIFs”). It also provides guidance as to the much-debated issue concerning the assessment of ‘passing-on’ of damages, and the approach to be taken by the English courts when dealing with competing claims between claimants at different stages of the supply chain. This issue arises here since claims have been brought against the Schemes by retailers, but there also is a collective opt-out action on behalf of UK consumers. Despite the
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The UK Supreme Court finds a competition law infringement caused by payment card schemes used in supermarkets (Sainsbury’s / Visa & MasterCard)
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