Sellers have been campaigning to make the systems more competitive and for a reduction in fees, which cost them more than 1bn per year for more than a decade.
This ruling provides further support for on-going European regulatory developments to set a cap for interchange fees.
Helen Dickinson, director general of the British Retail Consortium, said: “We are delighted with this historic ruling. Capping these excessive and anti-competitive fees will support the UK retail industry and others, boosting our ability to invest and innovate while continuing to deliver lower prices and value for customers.
But Dickinson added that the UK is falling behind many other developed countries which have already implemented caps and provided redress.
She said: There is a real opportunity for the Government and Payment Systems Regulator to go further and faster by taking more immediate action in the UK so that British consumers benefit as quickly as possible.”