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...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!