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Mastercard, Visa and Revolut Lose UK Legal Challenge Over Card Fee Cap Plans
Mastercard, Visa, and Revolut lost a legal challenge against the UK's Payment Systems Regulator, which decided to cap interchange fees on cross-border online payments. This ruling affects these companies and may benefit merchants and consumers by reducing fees, while potentially increasing competition among payment processors. Expect other jurisdictions to consider similar fee caps, potentially leading to global regulatory shifts. Payment processors may need to adjust their business models to maintain profitability.