Visa, WH Smith Settle Interchange Fee Antitrust Suit
Law360, London (July 9, 2019, 12:48 AM BST) -- British stationary retail chain WH Smith has become the latest merchant to resolve a yearslong antitrust dispute with credit card giant Visa over interchange fees after reaching an out-of-court settlement.
The two parties agreed to a consent order to dismiss proceedings signed by Judge Nigel Teare on July 4. According to a 2015 order form, WH Smith PLC expected to collect more than £300,000 ($375,000) in damages after accusing the credit card company of charging excessive swipe fees in violation of U.K. and European Union competition law.
A spokesman for Visa declined to comment on the matter.
The dispute relates to...
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