Visa and Mastercard threatened with potential £5bn UK lawsuit over fees
OMEGAZEPRIME News
This story was selected and curated by our editorial team in the Banking category. Published on October 26, 2026 • Originally reported by Kalyeena Makortoff Banking correspondent. OMEGAZEPRIME provides independent news coverage and analysis for our readers. Stay informed with the latest developments.
This story was selected and curated by our editorial team in the Banking category. Published on October 26, 2026 • Originally reported by Kalyeena Makortoff Banking correspondent. OMEGAZEPRIME provides independent news coverage and analysis for our readers. Stay informed with the latest developments.
Application made for group claim seeking compensation for companies for alleged overcharging on customer card payments
Visa and Mastercard are being threatened with a potential £5bn lawsuit for allegedly stifling competition and charging UK businesses excessive fees.
The law firms Harcus Parker and Hausfeld have lodged an application at the Competition Appeal Tribunal in hopes of pursuing a group claim that would compensate companies who, they claim, have been overcharged on customer card payments since October 2020.
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