Mastercard sued for $19 billion in UK’s biggest ever damages claim – InBusiness

Mastercard sued for $19 billion in UK’s biggest ever damages claim

Https%3a%2f%2fblueprint-api-production.s3.amazonaws.com%2fuploads%2fcard%2fimage%2f205760%2fgettyimages-586899862

Mastercard is in trouble in the UK. 

The payment company is facing a lawsuit that’s demanding £14 billion, or $19 billion, that could be distributed to as many as 46 million people, according to Reuters

Mastercard allegedly charged high fees to stores to process debit and credit payments, passing those fees onto consumers through higher prices. The suit alleges Mastercard allowed this practice between 1992 and 2008. 

The $19 billion claim could be the biggest in UK history, the firm behind the suit says.

Mastercard denied the claims of the lawsuit in a statement Friday. 

Gelogis

More about Debit Card, Credit Card, Lawsuit, Mastercard, and Business

Read More

Related posts:

Leave a Comment

Your email address will not be published. Required fields are marked *