Mastercard must reimburse millions of people, even those with Visa cards
This is an unprecedented case. A long-running legal battle has just reached its conclusion, allowing approximately 2.5 million people to recover money. The defendant: Mastercard. The American payments giant has just been ordered to return part of the profits accumulated due to fraud involving EFTs, the small devices on which you place your bank card to pay.
The case first broke in the United Kingdom. In 2016, Walter Merrick, a former British financial ombudsman, took Mastercard to court, arguing that certain fees charged on bank card transactions were too high. After nearly 10 years of legal battles, he has now won his case. The interchange fees levied by Mastercard should not have been so high.
Walter Merrick's complaint relates to transactions made between 1992 and 2008. "Businesses and retailers passed these additional costs on to consumers in the form of higher prices. These increases were passed on to all consumers, not just Mastercard customers," the BBC explains. Mastercard must therefore issue a refund.
This can be claimed by those who were resident in the United Kingdom on September 6, 2016, and who lived in England, Wales, or Northern Ireland for at least three months between 1997 and 2008. For Scotland, the period is longer, as those who lived there for three months between 1992 and 2008 can claim it. All this is possible if they were over 16 years old at the time. Therefore, only those born before March 22, 1992, are entitled to claim what is due.
Incredibly, no proof of purchase or other supporting documentation will be required to receive the payment. A simple claims platform is expected to be set up online. The amount received will depend on the number of claimants. If fewer than 2.2 million Britons file, €83 (£70) will be paid. If more claims are registered, the amount will be reduced to €53 (£45).
L'Internaute
