02:37 PM EDT, 06/27/2025 (MT Newswires) -- Mastercard ( MA ) and Visa (V) violated European competition law by charging retailers default multilateral interchange fees, according to a ruling by London's Competition Appeal Tribunal on Friday.

The tribunal dismissed the companies' proposed alternatives as unworkable and lacking legal merit, calling them an abuse of process.

Instead, it backed a scenario with no interchange fees, aligning with a prior Supreme Court ruling and addressing what the tribunal described as the core harm to competition.

"Mastercard ( MA ) strongly disagrees with today's decision, which is deeply flawed, and will seek permission to appeal," a Mastercard ( MA ) spokesperson said in an emailed statement to MT Newswires. "Interchange plays a vital role in supporting the UK payments ecosystem. It funds innovation and ensures people and businesses continue to pay and get paid quickly, easily and securely."

Visa didn't immediately respond to a request for comment from MT Newswires.

Mastercard ( MA ) shares rose 1.3%, and Visa gained 1.1%.

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