Saturday, September 25

Mastercard £14bn class action case given green light to go ahead

Former chief ombudsman of the Financial Ombudsman Service, Walter Merricks, who is represented by law firm Quinn Emanuel, first launched the case in 2016. Mr Merricks argues that Mastercard charged unlawful fees to retailers and businesses processing transactions between 22 May 1992 and 21 June 2008 and that these costs were then passed onto shoppers in the forms of higher prices – whether they paid by Mastercard or not.

But the Competition Appeals Tribunal (CAT) has this week’certified’ the claim against Mastercard, which means the case can now move to trial. The judgement follows a hearing held this March which considered what could be included within the scope of the case and whether the case could proceed. The next hearing is expected to take place in September or October, although an exact date has yet to be confirmed.

Mr Merricks’ class action case represents all consumers who made purchases in the UK during the time frame detailed above, who were aged 16 or over, and had lived in the UK continuously for at least three months. However, the CAT has declined Mr Merricks ‘request to include deceased people in the claim and to add compound interest to any payouts.

See our Consumer Rights guide for more info on your legal protection.