UK court backs cap on cross-border card fees

LONDON, Jan. 15 (Xinhua) -- A United Kingdom (UK) court on Thursday upheld the powers of the country's payments watchdog to cap cross-border card fees on online transactions, rejecting a legal challenge brought by Visa, Mastercard and fintech firm Revolut.

The High Court in London ruled that the Payment Systems Regulator (PSR) is legally entitled to impose price caps on so-called interchange fees - charges paid