Revolut and Visa file legal challenges against UK payments regulator

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Financial Times 3d ago

Revolut and Visa file legal challenges against UK payments regulator - Financial Times

Quick Summary:

Visa said: “We respect the PSR’s role as an economic regulator.

However, the proposal has sparked furore from European banks and fintechs, which make money from the fees.

The cap was designed “to protect UK businesses from overpaying” following complaints about the high fees charged to retailers by Visa and Mastercard, the PSR said at the time.