A class action lawsuit, filed nearly ten years ago, has finally been successful: Mastercard will have to pay hundreds of millions of pounds for fees deemed excessive, even to customers... who have never owned a Mastercard.
A Long-Term Battle
It all began in 2016 when Walter Merricks, a former financial ombudsman in the United Kingdom, filed a complaint against Mastercard, accusing it of having unduly charged excessive interchange fees between 1992 and 2008. These fees are the commissions that merchants must pay to banks each time a purchase is paid for by card. However, according to Merricks, these costs were passed on to consumer prices, indirectly impacting all customers, regardless of their payment method.
After a difficult legal process, the British courts finally ruled in favor of the plaintiff. A decision that is now final, paving the way for a massive reimbursement estimated at nearly 10 billion pounds sterling (around 11.8 billion euros).
All Britons affected... or almost
An unprecedented development: this compensation potentially concerns more than 46 million people. And it is not even necessary to have used a Mastercard to be eligible. Anyone who resided in the United Kingdom for at least three months between 1992 and 2008 (or from 1997 in England, Wales, and Northern Ireland) is likely to have been harmed, as long as they were over 16 years old in 2008.
This approach is based on simple economic logic: if Mastercard fees have driven up prices at retailers, then all consumers have suffered, not just those with a specific bank card. In short, even a customer who pays only in cash or with a Visa card could request compensation.
An automatic refund... but not immediate
Eligible British consumers don't have to do anything yet. An official platform will soon be launched to allow everyone to check their eligibility and claim what they are owed. No proof will be required: no receipts or bank statements.
The individual amount will depend on the total number of requests received. Two scenarios are being considered: approximately €83 per person if participation remains below 2.2 million requests, or €53 if the mobilization is massive.
But the Mastercard group hasn't said its last word. While it has lost the battle on the very principle of reimbursement, it is still trying to limit the financial impact by challenging certain calculation methods. However, the courts have already upheld most of the plaintiffs' arguments, and consumers can expect a favorable outcome soon.
For Mastercard, this judgment represents much more than just a financial blow: it opens a major breach in consumer rights in the United Kingdom. It also sends a clear signal to payment giants, whose pricing practices are now under scrutiny.
And in France?
This judgment has no direct impact on French consumers. Nevertheless, it could set a precedent. In France, interchange fees have been regulated by European regulations for several years, but consumers have few class actions available. This case shows that with solid organization, abuses can be punished and lead to significant compensation.
If you were resident in the UK during the period in question, it will be possible to file a claim even from abroad, provided you meet the criteria.
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