Visa and Mastercard are facing a multi-billion pound class action lawsuit in the UK over alleged unlawful interchange fees.
The claim, to be filed soon at the Competition Appeal Tribunal (CAT), asserts that multilateral interchange fees (MIFs) charged on consumer debit and credit card transactions are unlawful and anti-competitive, and should be refunded to UK businesses.
Stephen Allen, director of the class representatives CICC I and CICC II, which already represent businesses in ongoing collective proceedings against the companies, has engaged law firm Harcus Parker to initiate this new action.
In June 2025, the CAT determined that MIFs for both commercial and consumer cards significantly restricted competition. Visa and Mastercard have indicated plans to appeal this ruling.
The upcoming consumer suit will encompass all businesses accepting Mastercard and Visa cards from 2019 until the judgment or settlement date, including interest.
Jeremy Robinson, a competition litigation partner at Harcus Parker, stated: “We continue to hold these corporate giants accountable through class action litigation to ensure Mastercard and Visa cease imposing unfair charges on businesses.”
In response, Mastercard asserted: “We strongly disagree with the basis of this claim. Interchange plays a vital role in the payment ecosystem, funding innovation that helps businesses accept cards, grow sales, and reduce fraud. This claim appears more focused on benefiting lawyers and their financial backers than on aiding UK businesses.”
Legal disputes over interchange fees in the UK have persisted for years. Recently, in May, the CAT approved Mastercard’s £200 million settlement from a class action brought on behalf of British consumers, potentially resulting in millions receiving up to £70 each.