UK Tribunal Allows Class Action Lawsuits Against Visa, Mastercard

Visa and Mastercard are facing new lawsuits over multilateral interchange fees.The United Kingdom Competition Appeal Tribunal ruled Friday (June 7) that collective proceedings — which are similar to class action lawsuits in the United States — brought on behalf of merchants can proceed, Reuters reported Friday.The two global payment processors already face several lawsuits in London over the fees retailers pay when consumers use a card for purchases, according to the report.The cases certified Friday were b ...