charlotte Egan

In a recent judgment, the UK Competition Appeal Tribunal (CAT) has ruled that the default Multilateral Interchange Fees (MIFs) set by Visa and Mastercard infringe UK and EU competition law. The Tribunal concluded that these default fees are anti-competitive by their very nature, amounting to a restriction of competition “by object”. The case concerns default MIFs - non-negotiable base fees set by Visa and Mastercard in relation to both credit and debit card transactions.