Pressure of AMEX over card fees

Increasing fee differentials between rival card issuers could lead to pressure from merchants and reduced acceptance levels, the High Court heard. Visa is in the middle of a civil trial brought by major high street retailors, including Sainsbury’s and M&S, over alleged excessive fees charged to merchants. The financial services giant is accused of anti-competitive behaviour by fixing the rate of multilateral interchange fees (MIFs). The claim from 12 retailers was first lodged in 2013, although supermarket chain Tesco settled…