UK: CMA pauses swipe-fee probe as EU case progresses

The UK’s Competition and Markets Authority announced Tuesday that it has decided to pause its investigation into interchange fees and will not be issuing any statements of objection at this time.

According to reports, the CMA decided to halt its case due to the progress made by the European Commission in introducing new legislation to regulate swipe-fees. That legislation is now under debate at the Council of the European Union, the CMA said.

According to the UK watchdog, EU swipe-fee laws are “likely to be implemented in the coming months and will benefit consumers and retailers by dealing with the harm which, is suspected, is caused by current levels of interchange fees.”

The fees, charged to retailers whenever a customer uses a credit or debit card, are under scrutiny for being anticompetitive in how they are set and the regulations card companies force on retailers.

The CMA said in its announcement that its investigation remains open.

Full content: Gov.uk

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