that the card networks' fees that are charged between issuers, acquirers, and merchants breach an existing treaty's rules on competition, potentially leading to Mastercard and Visa having to repay merchants for fees and limiting their ability to charge such fees going forward., and the Supreme Court ultimately looked at appeals from three separate proceedings involving retailers like Sainsbury's, Asda, and Argos.
The court found that the card networks' fee structures created a non-negotiable price floor for merchant fees, potentially hurting merchants' businesses. Acquirers charge merchants a merchant service charge to accept card payments. So when issuers pay acquirers when consumers make a transaction with one of their cards, acquirers send the payment to the merchants after taking out the MSC.
Under Mastercard's and Visa's card schemes, acquirers "invariably" pay issuers a default interchange fee for transactions that acquirers pass on to merchants via their MSC.
If this ruling holds in the UK, and if the EU follows suit, it could prove costly for card networks, issuers, and acquirers. Mastercard and Visa may have to repay fees or other damages to merchants in response to the ruling. Sainsbury's aims to collect payments to match all of the "unlawful" charges it has faced from Mastercard and Visa, Sainsbury's lead counsel Morgan Lewis told Reuters.
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