By Tony Winterburn •
Published: 11 Dec 2020 • 21:16
MILLIONS of Brits Could Receive £300 After Mastercard loses landmark £14bn Supreme Court Case.
Millions of Brits could now be in line for payouts of up to £300 EACH after Mastercard lost a landmark £14bn Supreme Court case over it’s ‘unlawful’ transaction fees. As many as 46 million UK adults may be eligible for the payment. The US credit card provider lost a legal fight with former financial ombudsman Walter Merricks, who had claimed consumers had paid the ‘unlawful’ higher prices between 1992 and 2007 due to higher card transaction fees, these fees were later declared unlawful.
Merricks case, the first of its type to be brought before Britain’s highest court, was initially thrown out by a tribunal but was later revived by the Court of Appeal last year, with the Supreme Court now also finding in his favour after a two-day hearing in mid-May.
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