A closer look at “Visa and Mastercard face £5bn UK lawsuit over card fees for businesses”, exactly as the source publishes it. Visa and Mastercard are facing a potential £5 billion lawsuit in the UK over allegations of stifling competition and charging excessive fees to businesses. Law firms Harcus Parker and Hausfeld have filed an application at the Competition Appeal Tribunal, seeking a group claim to compensate companies Law firms Harcus Parker and Hausfeld have filed an application at the Competition Appeal Tribunal, seeking a group claim to compensate companies allegedly overcharged on card payments since October 2020.
The case could affect thousands of UK businesses that accept card payments, from small retailers to large corporations. If successful, it may force the card networks to lower interchange fees and could set a precedent for similar claims across Europe. The full version stays on the original page, which this listing opens directly.