UK Court Backs Card Fee Caps as Mastercard, Visa, and Revolut Lose Challenge

Hey Digital Banking Fanatic!

Mastercard, Visa, and Revolut just lost their legal challenge against the UK payments regulator over proposed caps on cross-border card fees.

The case targeted plans by the Payment Systems Regulator to limit fees charged when European consumers buy online from UK merchants. The timing and level aren’t set yet. The power to cap them is.

The court sided with the regulator. Judge John Cavanagh ruled the PSR does have authority to impose price caps on interchange fees, rejecting arguments from the card schemes and Revolut.

The PSR has long argued that fees had climbed to unduly high levels. Regulators say this is about fairness for UK businesses and consumers. The industry says caps risk undermining value. The legal line is now clear.

Meanwhile, Big Capital Moves In Asia...

WeLab Bank just closed a $220 million Series D, the largest digital banking raise in Asia in 2025. The round brings in a mix of strategic investors and capital partners and fuels expansion across Southeast Asia.

Part of the focus is on AI. The funding backs WeLab’s AI-first push, including its partnership with Google, as it scales products, personalization, and new business lines.

Different regions. Same signal. Regulation tightens in Europe while capital and ambition accelerate in Asia.

If you’re tracking how Digital Banking is evolving across markets, keep scrolling 👇 More updates coming your way next week.

Cheers,

Marcel

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🇬🇧 Mastercard, Visa, and Revolut lose UK case over proposed cross-border card fees cap. Mastercard, Visa, and Revolut argued that the PSR did not have the power to impose price caps. The judge, however, rejected the challenge and ruled that the PSR does have the power to impose its proposed price caps on interchange fees.

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