Maestro debit card service could have collapsed

MasterCard’s Maestro debit card service could have ‘collapsed’ if it had set lower interchange fees for high street giants including ASDA and Debenhams, a court heard. The retailers, along with House of Fraser, Argos, Morrison, Iceland, Next, New Look, B&Q, Comet, Arcadia Group Ltd, and Record Shop 2 claim the company set multilateral interchange fees (MIFs) at unlawful levels for nearly ten years. The fees are charged by banks to merchants on every card transaction as part of a Merchant…