A British court has ruled that interchange fee lawsuits against Visa and Mastercard can proceed.
The two US giants are being sued on behalf of hundreds of merchants over multilateral interchange fees for accepting card payments.
After the London Competition Appeal Tribunal initially refused to certify the cases, it has now given the green light to do so revised applications Continue.
The decision is the latest development in a long-running series of lawsuits over fees charged by Visa and Mastercard merchants.
Law firm Harcus Parker, which specializes in commercial litigation, is bringing the case on behalf of British companies in a case that could see damages worth at least £7.5 billion.
Last month, the payments regulator backed away from imposing financial penalties on Visa and Mastercard systems and processing fees, despite evidence that the companies operate an effective duopoly in providing services to merchants.
