ALERTS: CARTELS - EUROPEAN UNION - HUNGARY - BANKING SECTOR - PRICE INCREASE - OBJECT RESTRICTION

Object restriction: The Court of Justice of the European Union calls on the Hungarian Supreme Court to ascertain whether the multilateral interchange fee set by the banks for credit card transactions with a merchant pursued no objective other than a simple price increase (Gazdasági Versenyhivatal / Budapest Bank)

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. On 2 April 2020, the Court of Justice of the European Union delivered its judgment in Case C-228/18 (Gazdasági Versenyhivatal v. Budapest Bank Nyrt. and others).following a reference for a preliminary ruling from the Kúria, the Hungarian Supreme Court. The main proceedings concern an old agreement of 1996, which remained in force until 30 July 2008, concluded by the main Hungarian banks, under the aegis of Visa and MasterCard, introducing a multilateral interchange fee (MIF) for credit card transactions at a merchant. The Hungarian Competition Authority considered that the MIF agreement constituted a restriction of competition by its object, but also not by

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  • L’actu-concurrence (Paris)

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Alain Ronzano, Object restriction: The Court of Justice of the European Union calls on the Hungarian Supreme Court to ascertain whether the multilateral interchange fee set by the banks for credit card transactions with a merchant pursued no objective other than a simple price increase (Gazdasági Versenyhivatal / Budapest Bank), 2 April 2020, Concurrences N° 3-2020, Art. N° 94073, www.concurrences.com

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