Millions of Mastercard users could get up to £70
Summary
Millions of Mastercard users in the UK might receive up to £70 each after a court decision found some past fees charged by Mastercard unfair. The case, led by former financial ombudsman Walter Merricks, involved fees that affected prices between 1992 and 2008.Key Facts
- A court ruled that some fees charged by Mastercard were unfair.
- Former financial ombudsman Walter Merricks led the case.
- The case involves fees charged between 1992 and 2008.
- It was argued that 46 million UK shoppers paid higher prices due to these fees.
- The fees were initially paid by retailers but were passed on to consumers in higher prices.
- The legal action started after a 2007 European Commission ruling against Mastercard's fees.
- Mastercard has been asked for a comment on the ruling.
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