Visa Defends Interchange Fees As Necessary In Merchant Suit

Law360, London (November 4, 2020, 5:13 PM GMT) -- Visa Inc. has told private club operator Soho House and other merchants that the fees it charged were necessary to allow it to operate the payment system and did not restrict competition, after the group claimed that the transaction charges were set at unlawful levels.

Visa said in two separate defense filings dated Oct. 29 that it required Soho House UK Ltd. and other merchants to pay fees so it could process their payments. Therefore the fees did not break U.K. and European Union competition rules, the payment giant said.

"None of the relevant elements of the Visa arrangements had the...

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