financetom
Business
financetom
/
Business
/
Visa and MasterCard face new UK lawsuits over merchant fees
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Visa and MasterCard face new UK lawsuits over merchant fees
Jun 7, 2024 9:36 AM

LONDON (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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Families appeal judge's decision to dismiss Boeing criminal case
Families appeal judge's decision to dismiss Boeing criminal case
Nov 13, 2025
WASHINGTON (Reuters) -Families of some victims of two fatal Boeing 737 MAX plane crashes that killed 346 people asked a U.S. appeals court on Thursday to reverse a decision by a judge to approve a request by the Justice Department to dismiss a criminal case against the planemaker. Judge Reed O'Connor, of U.S. District Court in Fort Worth, Texas, on...
WildBrain Q1 revenue up 13%, net loss widens
WildBrain Q1 revenue up 13%, net loss widens
Nov 13, 2025
(Corrects currency to C$ in Bullets 1 and 2 of Outlook) Overview * WildBrain Q1 2026 revenue up 13% yr/yr, driven by Global Licensing growth * Net loss for Q1 2026 including Television widens to C$32.6 mln from C$10.6 mln in Q1 2025 * Company ceased Television operations to focus on higher-margin opportunities Outlook * WildBrain ( WLDBF ) reaffirms...
Morgan Stanley questioned by US House panel over Zijin Gold IPO in Hong Kong 
Morgan Stanley questioned by US House panel over Zijin Gold IPO in Hong Kong 
Nov 13, 2025
NEW YORK, Nov 13 (Reuters) - Morgan Stanley's ( MS ) underwriting of Zijin Gold International's ( ZJNGF ) Hong Kong IPO placed it and its U.S. investors at risk of regulatory, financial and reputational harm, a U.S. House of Representatives committee told the bank on Thursday. Zijin Gold ( ZJNGF ) is a subsidiary of Zijin Mining Group ,...
General Dynamics Expands Collaboration With Google to Develop AI Services for Government Agencies
General Dynamics Expands Collaboration With Google to Develop AI Services for Government Agencies
Nov 13, 2025
05:47 PM EST, 11/13/2025 (MT Newswires) -- General Dynamics' ( GD ) information technology unit expanded its collaboration with Alphabet's (GOOG/GOOGL) Google Public Sector division. Under the agreement, General Dynamics ( GD ) will integrate its Digital Accelerators portfolio with Google Cloud to offer artificial intelligence and cloud solutions to defense and intelligence agencies, and to modernize services for civilian...
Copyright 2023-2026 - www.financetom.com All Rights Reserved