Visa and Mastercard face class action in the UK
UK law firm Harcus Parker has launched a class action against payments giants Visa and Mastercard. The class action seeks to recover millions of pounds in damages for UK businesses. That has been affected by excessive fees imposed by Visa and Mastercard.
Excessive fees for credit and debit card transactions
Law firm Harcus Parker has brought charges against Visa and Mastercard. Claiming that they have breached EU competition rules by charging excessive fees for credit and debit card transactions.
These transaction fees are imposed on merchants who accept card payments. And are often passed on to consumers in the form of additional fees.
Charges against Visa and Mastercard refer to these transaction fees as "hidden taxes", as consumers are often not inf...