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Class action card fee lawsuit filed against Visa, Mastercard
A class action lawsuit has been served against Visa and Mastercard on behalf of a large number of claimants over alleged unlawful charges.
It includes a number of travel industry plaintiffs.
Harcus Parker, a UK-based commercial litigation law firm s has brought the corporate card claim at the Competition Appeal Tribunal (CAT).
The class action seeks compensation for UK businesses, which were charged Multilateral Interchange Fees (MIFs) for accepting payments using corporate credit cards, and credit and debit cards from overseas visitors.
Harcus Parker claims that Visa and Mastercard have forced banks to agree to a level of MIFs which are ‘anti-competitive and unlawful’.
“We want to make sure that businesses across the UK economy are properly compensated. We are making a stand against unlawful interchange fees, which should be abolished,” it said.
Both the Court of Justice of the EU and the United Kingdom Supreme Court has condemned this practice for consumer credit and debit cards. The UK courts should now clamp down on commercial card and inter-regional fees,” said Jeremy Robinson, competition litigation partner at Harcus Parker.
“UK businesses in the travel, hospitality, retail and luxury sectors are particularly hurt by Mastercard and Visa’s multilateral interchange fees”.
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