UK law firm Harcus Parker has launched a class action against payment giants Visa and Mastercard for excessive transaction fees. The class action aims to recover millions of pounds for UK businesses that have been affected by the excessive fees.
Excessive fees for credit and debit card transactions
Visa and Mastercard have breached EU competition rules by charging excessive fees for credit and debit card transactions, the law firm claims. The transaction fees imposed by these companies on merchants, which are often passed on to consumers in the form of surcharges, have been described as “hidden taxes”.
These fees are often misunderstood and perceived as “hidden taxes”. This practice can result in high costs for consumers, especially for large transactions, such as purchases of expensive goods and services.
Class action to recover millions of pounds
The class action launched by Harcus Parker aims to recover millions of pounds for UK businesses that have been affected by these excessive fees. The law firm estimates that more than 46 million transactions could be affected, and is inviting eligible businesses to register online to take part in the class action.
If the class action is successful, businesses could be reimbursed for these excessive fees and help put pressure on Visa and Mastercard to reduce the transaction fees they charge businesses.
Online registration to participate in the collective action
Companies wishing to participate in the class action can register online at the Harcus Parker website. The law firm encourages all eligible companies to register as soon as possible in order to maximise the chances of success of the class action.
Businesses enrolled in the class action will be represented by Harcus Parker and may recover damages if the action is successful. The law firm will handle the entire litigation process, including the collection of evidence and representation in court.
Harcus Parker believes that there are thousands of UK businesses that have been affected by Visa and Mastercard’s excessive fees and could benefit from the class action. By signing up to the collective action, businesses have the opportunity to join a collective force that has the power to make a difference.
Previous class actions launched by Harcus Parker
Harcus Parker is a law firm specialising in class actions and has launched similar class actions against other large companies. Here is an overview of some of these previous class actions:
Class action against Volkswagen over diesel emissions scandal
In 2016, Harcus Parker launched a class action against Volkswagen in the UK over the diesel emissions scandal. The law firm acted on behalf of UK consumers who purchased or leased Volkswagen cars affected by the diesel emissions scandal. The class action was one of the first of its kind in Europe and attracted worldwide media attention.
Class action against British Airways for data breach
In 2019, Harcus Parker launched a class action against British Airways for a data breach that affected nearly 500,000 of the airline’s customers. The law firm acted on behalf of British Airways customers who were affected by the data breach and sought damages for the harm suffered.
Class action against Visa and Mastercard
By launching this class action against Visa and Mastercard, Harcus Parker is sending a clear message to the big companies who abuse their power to impose excessive charges on businesses and consumers. This class action represents a unique opportunity for UK businesses to have their voices heard and to recover millions of pounds in damages.