Mastercard Tells Restaurants Interchange Fees Were Justified
Law360, London (September 22, 2020, 8:03 PM BST) -- Mastercard Inc. has hit back against allegations from a group of London restaurants including Sexy Fish and the Ivy that the transaction fees it charged them were unlawful, claiming the charges were necessary to complete payments.
The card giant said in a Thursday defense filing that the non-negotiable fees that it required Caprice Holdings Ltd. and other merchants to pay were "efficiencies which exceeded any alleged adverse effects." Therefore, the fees did not break U.K. and European Union competition rules, the payment giant said.
The restaurant group and other merchants, including private members' clubs Annabel's and Mark's Club, sued Mastercard on...
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