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Key points
- Hausfeld said in an announcement on its website that collective claims against Mastercard and Visa over consumer card fees have been filed in the Competition Appeal Tribunal (CAT).
- The proposed class representatives are Commercial and Interregional Card Claims I Limited and Commercial and Interregional Card Claims II Limited, both directed by Stephen Allen, with CICC I represented by Harcus Parker and CICC II represented by Hausfeld.
- The claims concern multilateral interchange fees (MIFs) that Mastercard and Visa set and that businesses pay through their banks when customers use cards.
- UK-domiciled businesses with group turnover under £100 million between 2022 and 2024 will be included automatically in the opt-out claim brought by Hausfeld, unless they choose to opt out.
- Businesses with group turnover of £100 million or more between 2022 and 2024 may instead be eligible to join the opt-in claim brought by Harcus Parker.
Scope and eligibility
According to the announcement, the claims are the first collective actions to cover all UK businesses and all transactions involving Mastercard or Visa consumer debit, credit or prepaid cards. Hausfeld said the claim period runs from 23 October 2020 to 23 October 2026 and will include interest. The firm said businesses that have previously brought or settled a claim against Visa or Mastercard over consumer card transactions will not be able to take part in these proceedings. Hausfeld said the case is financed by third-party litigation funder Bench Walk Advisors and is fully insured, with no cost to participating businesses and no cost if the case is unsuccessful.
Comment from the parties
Stephen Allen, the proposed Class Representative, said: “This claim finally gives UK businesses a chance to recover what we say they were overcharged.” Belinda Hollway, competition litigation partner at Hausfeld, said: “Taking legal action against Mastercard and Visa in the UK courts is the best way to hold them to account for their unfair charges on businesses.”