Vodafone Hits Visa, MasterCard With UK Swipe Fee Suit
Law360, London (January 29, 2019, 6:57 PM GMT) -- Vodafone Ltd. sued Visa and MasterCard in London's High Court on Monday, in the latest action accusing the credit card giants of imposing excessive interchange fees that violate competition law.
In the claims, Vodafone and its affiliates allege that the merchant service charges they're required to pay for each Visa and MasterCard credit and debit card transaction have been “material times higher" than they should be.
The suit seeks unspecified damages over claims Visa and MasterCard violated both European Union and U.K. competition law.
Vodafone also seeks a declaration that the multilateral interchange fee arrangements dictated by Visa and MasterCard “are...
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