Revolut, Mastercard, Visa Lose Card Fees Cap Legal Battle January 15, 2026 Victoria Sterling -Business Editor Business “`html Thursday 15 January 2026 2:06 pm | Updated: Thursday 15 January 2026 2:07 pm share FacebookRevolut, mastercard & visa lose legal battle on card cap fees Table of Contents Revolut, mastercard & visa lose legal battle on card cap fees David Geale Appointed as New Director of the UK’s National Cyber Security Centre (NCSC) Background of David Geale The National Cyber Security Centre (NCSC) Transition from Lindy Cameron Key Priorities for David Geale Teh fintech giant Revolut, along with Mastercard and Visa, have lost a legal battle over interchange fees charged on debit and credit card transactions. The case, brought by major retailers, centred around whether the fees – which merchants pay to card issuers – breached competition law. A London tribunal ruled that the fees, which totalled £30bn a year, were anti-competitive. The tribunal found that Mastercard and Visa had abused their dominant position in the market by setting the same interchange fees for years. The retailers argued that these fees ultimately get passed on to consumers thru higher prices. Revolut, which operates as an issuer of Mastercard and Visa cards, was also found liable as it benefited from the scheme. The full financial impact of the ruling is yet to be determined, but experts estimate it could run into billions of pounds. Retailers are now expected to seek compensation for the overcharges. A spokesperson for Mastercard said they were “disappointed” with the decision and were considering an appeal. Visa and Revolut have yet to comment. Revolut, Mastercard and Visa have lost a legal battle against the UK’s payments watchdog amid plans to introduce a cap on card fees for overseas transactions. The trio of payment giants brought a judicial review to the High Court following a decision by the Payment Systems Regulator (PSR) in December 2024, confirming that it would consult on the fees cap. These fees,which banks charge retailers to process payments,surged fivefold following the UK’s departure from the European Union, rising from 0.2 per cent to 1.15 per cent for debit cards and 0.3 per cent to 1.5 per cent for credit cards. The payments watchdog had previously said fees were rising to an “unduly high level,” whilst firms have hit back, claiming the PSR did not have the power to introduce a cap. However, High Court Judge John Cavanagh ruled on Thursday that the regulator, which merged with the Financial Conduct Authority (FCA) last year, has the authority to impose its proposed price caps on interchange fees. Consequently, he dismissed the payment giant’s submission. David Geale Appointed as New Director of the UK’s National Cyber Security Centre (NCSC) David Geale officially assumed the role of Director of the National Cyber Security Centre (NCSC) on January 15,2026,succeeding Lindy Cameron. His appointment marks a key leadership transition for the UK’s leading authority on cybersecurity. Background of David Geale David geale brings extensive experience in national security and intelligence to the NCSC.Prior to his appointment, he served as the Director General for Defense and International Security at the Home Office, a role he held as 2021. His official government profile details his responsibilities in that position, which included overseeing a broad range of national security issues. The National Cyber Security Centre (NCSC) The NCSC is a part of government communications Headquarters (GCHQ), the UK’s intelligence, security and cyber agency. It provides advice and support to both the public and private sectors to improve their cybersecurity posture. Established: 2016 Parent Association: GCHQ Mission: To make the UK the safest place to live and work online. Further data about the NCSC’s mission and work can be found on their official website: https://www.ncsc.gov.uk/ Transition from Lindy Cameron Lindy Cameron served as the NCSC’s Director from May 2021 until January 2026. The government announced her departure and Geale’s appointment on December 19, 2025, citing Cameron’s desire to pursue opportunities outside of public service. In a statement released by the Cabinet Office, Chancellor of the Duchy of Lancaster, Alex Burghart, praised Cameron’s leadership and highlighted the NCSC’s achievements under her direction, including strengthening the UK’s defenses against ransomware attacks and improving critical national infrastructure resilience. Key Priorities for David Geale While specific policy announcements are pending, Geale is expected to prioritize strengthening the UK’s resilience to state-sponsored cyberattacks and addressing the evolving threat landscape posed by criminal ransomware groups. He will also likely focus on fostering greater collaboration between government, industry, and academia to enhance the UK’s overall cybersecurity capabilities. A NCSC press release confirmed these areas as key focus points for the incoming director. Share this: Share on Facebook (Opens in new window) Facebook Share on X (Opens in new window) X Related business, cab payments, Card, card payments, card spending, fintech, fintech investment, fintech unicorn, Law, legal, legal action, legal business, Legal cases, MasterCard, news, payments, payments system, payments systems regulator, Revolut, uk fintech
