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Mastercard faces class action lawsuit from UK citizens
18:26, 6 July 2016
Mastercard faces class action lawsuit from UK citizens

Mastercard users want to prove levy for cross-border operations yielded losses

18:26, 6 July 2016

gazprom.ru

British prepared a class action lawsuit against Mastercard, saying about a loss of 19 billion pounds sterling ($24.3 billion) in total because of the EU commission system overvaluation. Liga.net reports this.

The Euro Commission decided that the levy of the interchange fee for cross-border operations via Mastercard breaches the EU anti-monopoly law. The UK citizens will have to prove they suffered losses due to the levy in court.

The class action law suit will be submitted in the near future and will become one of the first lawsuits in the framework of the new Consumer Rights Act 2015.

Mastercard fully denies the charges.

"The electronic payment system provides the real profit both for online and shop payments", Mastercard says.

Related: Bank of England raised UK bank solvency due to Brexit

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