Regulators should crack down on ‘profiteering’ from card companies as Visa hikes interchange fees for shoppers buying from the EU by 475% Visa is the UK’s largest card provider with an 84% share of the card market It appears to be joining Mastercard in raising interchange fees by up to 475% European merchants are billed … Read more
Mastercard is blasted for ‘greed’ and ‘opportunism’ by charging British card users FIVE TIMES the fees on items ordered from EU then blaming Brexit Mastercard is hiking fees for UK shoppers buying from EU-based companies The European Union brought in a cap in 2015 amid fears over hidden fees Mastercard says the cap does not … Read more
Mastercard is one step closer to having to pay out as much as £14billion in total to more than 46million UK adults after it lost a landmark Supreme Court case. The US card provider this morning lost a legal fight with former financial ombudsman Walter Merricks, who had claimed consumers had paid higher prices between … Read more
Mastercard faces two days in front of Britain’s highest court to determine whether it potentially owes every adult in the UK a collective £14billion. Former financial ombudsman Walter Merricks is taking the card provider to court, claiming the fees it charged shops between 1992 and 2008, declared unlawful by the European Commission, resulted in consumers … Read more
Mastercard bans a conversion con on its prepaid cards which strips millions of pounds a year from British travellers Tourists are routinely offered a chance to pay in their ‘home’ currency This process is called ‘dynamic currency conversion’ Such conversion rates are expensive, as the Mail on Sunday warned last week By Laura Shannon, Financial … Read more