Retailers take credit card case to court

A group of high-profile retailers have taken the country's two largest credit card companies and 11 financial institutions to court seeking damages for alleged price-fixing of credit card fees.

This follows the Commerce Commission's move to file High Court proceedings against the same groups, which include MasterCard and Visa.

The commission is claiming the companies were anti-competitive in setting interchange fees of up to 1.8 per cent on each transaction.

Retailers Association chief executive John Albertson said the legal action would add weight to the commission's argument.