Both the UK Supreme Court and the Court of Justice of the EU have condemned this practice for consumer credit and debit cards and all eligible UK businesses stand to benefit.” “We consider all MIFs are a tax on business and should be abolished. “The proposed class representative in this case will make a stand against unlawful interchange fees to complement the existing action against commercial card and foreign card transaction fees. Jeremy Robinson, competition litigation partner at Harcus Parker, said: “We want to ensure businesses across the UK economy are properly compensated. ![]() ![]() However, the fees are set by Mastercard and Visa and imposed on the banks as a condition of participation in the Mastercard and Visa card schemes. These are the fees businesses pay to their banks to accept debit or credit card payments and can comprise up to 90% of a firm’s monthly bank charges. They will argue that any UK business which accepted payment by Mastercard or Visa-branded debit or credit cards should be compensated for allegedly overcharged Multilateral Interchange Fees (MIFs). Lawyers at Harcus Parker believe it would be one of the biggest competition compensation claims in UK history. The new claim complements those filed against Mastercard and Visa in the CAT last year. More: Court sets initial hearing date for industry’s class action lawsuitĬlaims against Mastercard and Visa filed with competition tribunalĪdvantage chief backs Visa and Mastercard fees lawsuit Harcus Parker, a UK-based commercial litigation law firm specialising in class action lawsuits, is bringing the claims against Mastercard and Visa. The claims for billions of pounds-worth of payments and damages for debit and credit card fees the class action lawyers argue are unlawful and excessive will be heard by the Competition Appeal Tribunal (CAT). ![]() Class action claims against Visa and Mastercard, brought on behalf of UK travel and hospitality businesses over card-payment fees, are to be widened with a new lawsuit launched on behalf of all UK businesses.
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