Several global fashion retailers have filed legal complaints against the world’s two major financial services companies over their fees for card payments.
Among them are UK-based AllSaints and Superdry, as well as American Levi, The Telegraph reported citing UK High Court writs.
The companies reportedly accuse Visa and MasterCard of breaching competition laws with their high fees, and seek compensations for their losses.
The fashion retailers thus joined around a dozen companies that seek to hold the two global credit cards operators accountable for high fees. Among other complainants are British supermarket chains Asda, Morrisons and Sainsbury’s.One of them, Sainsbury’s, reportedly reached an out of court settlement with MasterCard, but continues litigation against Visa. The latter rejects claims for compensations for high fees.“Visa considers all claims relating to interchange to be without merit and will be vigorously defended”.MasterCard, in turn, suggested that complainants benefited greatly from the services the company provides […]
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