Shoppers could be due up to £70 each after Mastercard agreed to a £200 million settlement over excessive transaction fees. While the settlement has been agreed in principle for a few months, a court has now approved the payout.
£100 million of the settlement has been set aside for eligible UK consumers who submit a claim. In total, up to 46 million adults could be due compensation from Mastercard.
The amount of compensation per person will depend on how many people sign up. Estimates suggest that individuals could potentially get between £45 and £70 each. Claimants may receive less if more people sign up.
What was the Mastercard case about?
The case, initiated by former financial ombudsman Walter Merricks in 2016, alleged that between 1992 and 2008, Mastercard charged excessive fees to retailers, which were then passed on to consumers through higher prices.
These hidden costs were built into the prices of everyday purchases, leaving millions paying more than they should have. And here’s the kicker: even if you never used a Mastercard, you still ended up paying more because of the inflated prices.
Who could be eligible for compensation from Mastercard?
If you purchased anything from a UK business between 1992 and 2008, you could be due compensation. You are likely to have a claim if:
- You were a UK resident on September 6, 2016
- You lived in the UK for at least three months between 1997 and 2008
- You bought goods or services from businesses that accepted Mastercard.
How can I claim compensation?
Plans for distributing the settlement have not yet been announced, but are expected soon.
The Mastercard class action is a landmark victory for consumer power. It sends a clear message: big corporations aren’t above the law. By holding Mastercard accountable, this case proves that fairness matters and that ordinary people can take on giants and win.
Join the Claim connects consumers with trusted, SRA-regulated law firms. For this claim, we’re not directly involved, but we’ll keep you informed. Where possible, we’ll share links to official claim websites or updates as they become available.
