Hi-Fi Retailer Suit Against MasterCard Stayed Amid Appeal

Law360, London (January 28, 2019, 3:33 PM GMT) -- A London court has agreed to stay a claim brought by a well-known U.K. home entertainment chain against MasterCard Inc. over interchange fees, as it waits for the Supreme Court to rule on an appeal being brought in a similar case.

Richer Sounds PLC is suing the credit card giant for damages, claiming that it paid higher service charges for transactions using MasterCard payments because of the way that the credit card company set minimum or default fees — which a court has ruled were at an unlawful level.

Multilateral interchange fees, or MIFs, are paid by a merchant’s bank to a...

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