Core Viewpoint - The High Court in London upheld the U.K. Payment Systems Regulator's authority to impose a cap on cross-border interchange fees, despite opposition from Visa, Mastercard, and Revolut [2][5]. Group 1: Regulatory Developments - The U.K. Payment Systems Regulator (PSR) proposed a cap on interchange fees in 2023 due to a significant increase in these fees post-Brexit, which rose more than fivefold for cross-border online payments [3]. - The PSR's findings indicated that interchange fees charged by Mastercard and Visa to U.K. businesses accepting payments from the European Economic Area (EEA) are likely too high, suggesting the market is not functioning effectively [5]. Group 2: Financial Impact - Interchange fees for online transactions between the European Union and the U.K. were increased by Visa and Mastercard to 1.15% for debit cards and 1.5% for credit cards from 2021 to 2022 [4]. - Visa and Mastercard, while not directly collecting interchange fees, are affected by the price caps as these fees incentivize banks to utilize their services [5]. Group 3: Industry Response - Visa and Mastercard have publicly disagreed with the PSR's findings, arguing that imposed controls on interchange fees do not reflect the current market realities and could negatively impact the value derived from card payments [5]. - Revolut, while involved in the legal challenge, declined to comment on the ruling [3].