Our website uses cookies

Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing Essential Retail Magazine, you agree to our use of cookies.

Okay, I understand Learn more

UK courts to revisit £14bn Mastercard lawsuit

Up to 46 million adults in the UK could be looking at a £300 payout as the Court of Appeal has ruled a £14 billion compensation claim against Mastercard to be revisited.

The legal action against Mastercard states that prices of goods in shops were inflated between 1992 and 2008 because of excessive transaction fees charged by the card issuer.

The case was originally dismissed two years ago, but the Court of Appeal in London has ruled that the £14 billion lawsuit must be looked at once more.

The case is spearheaded by former financial ombudsman, Walter Merricks, who is representing all consumers over the age of 16 who lived in the UK for three months during the 16-year time frame and made a purchase from the UK business which accepted Mastercard. If the claim is successful, individuals will not need to prove they even had a Mastercard during this time, because the lawsuit claims the excessive fees caused merchants to increase prices which impacted all shoppers.

Mastercard said it would appeal any rulings up to the Supreme Court.

What’s Hot on Essential Retail?