LONDON, June 7 (Reuters) - Global payments processors
Visa and Mastercard ( MA ) must face a new set of lawsuits
over fees charged to retailers, after a London tribunal ruled on
Friday that collective cases brought on behalf of merchants can
proceed.
The two firms already face a long list of lawsuits in London
over multilateral interchange fees, which retailers pay when
consumers use a card to shop.
Visa and Mastercard ( MA ) are each being sued by hundreds of
claimants at London's Competition Appeal Tribunal, which is
managing the various cases together.
Special purpose vehicle Commercial and Interregional Card
Claims brought another set of lawsuits against Visa and
Mastercard ( MA ) in 2022, seeking damages on behalf of merchants who
were allegedly overcharged.
The tribunal initially refused to certify its cases under
the United Kingdom's collective proceedings regime, which is
similar to class actions in the United States.
However, the tribunal ruled on Friday that the cases would
be certified, subject to any representations by other parties
who might have an interest in the cases.