Visa Open Letter to UK Retailers, Suzan Kereere, Head of Merchant Sales & Solutions, Europe
Our message to UK retailers: Let’s build together to create the future of digital commerce for the benefit of consumers. In 2013 a small group of high street retailers launched legal proceedings in the UK, claiming that Visa’s UK and cross-border European interchange fees were contrary to competition law.
Today’s UK High Court ruling confirmed that Visa’s UK interchange fees are lawful.
In response to the Court’s decision, Visa has published an open letter to UK retailers focused on how we can work together to create the future of digital commerce for the benefit of consumers. Here is a copy of that letter:
Open Letter to Merchants
Visa welcomes this week’s decision by the UK High Court, which confirmed that our interchange fees, the fees paid by UK retailers and their payment providers to accept electronic payments, are lawful.
We hope the Court's decision will accelerate the collaboration between retailers and Visa and will allow us to address the greatest disruption – and potentially the greatest opportunity – facing the merchant community in Europe today: the digitisation of commerce.
Visa is already working with retailers around the world, providing the technology and tools that enable them to offer shoppers a unique experience and a convenient and secure way to pay – online, in-stores and in countless mobile applications. We are excited to bring those same capabilities to retailers and consumers in Europe.
Let’s build together. We would love to talk to you about what Visa can do to help transform your business, and together, create the next generation of commerce experiences.