Visa, Mastercard Used in UK Over Merchant Fee Dispute

Post by : Dr. Amrinder Pal Singh

London, Visa and Mastercard are confronted with fresh legal challenges regarding fees imposed on retailers. A London tribunal ruled that collective lawsuits initiated on behalf of merchants can proceed, adding to the already extensive litigation the companies face over multilateral interchange fees.

Both Visa and Mastercard are embroiled in numerous lawsuits at London's competition appeal tribunal, where hundreds of claimants are seeking damages. These cases, managed collectively, include claims from special purpose vehicle commercial and interregional card claims, filed in 2022 alleging overcharging of merchants.

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Initially, the tribunal declined to certify these cases under the UK's collective proceedings' regime, akin to class actions in the US. However, in a recent ruling, the tribunal reversed its decision, certifying the cases pending any representations from other involved parties.

The legal action underscores the ongoing scrutiny and challenges faced by Visa and Mastercard regarding their fee structures and practices. It highlights the complex landscape of regulatory oversight and litigation surrounding payment processing companies, particularly in the realm of merchant fees.

The outcome of these lawsuits could have significant implications for the payment industry and may shape future regulatory frameworks governing interchange fees and merchant relations.

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