Millions of consumers across the UK are due compensation following the final approval of a £200 million settlement in a class action lawsuit against Mastercard. The case argues that more than 46 million UK shoppers paid inflated prices due to unlawful fees levied by Mastercard on transactions between 1992 and 2008. In this article, we explain the background to the ruling, who is eligible to claim and how to go about getting your money.
Mastercard court case explained
The lawsuit’s origins lie in a 2007 European Commission ruling, which found that Mastercard's interchange fees – charges made to businesses for processing card transactions – infringed competition law. The class action, led by former financial ombudsman Walter Merricks, contended that these unlawful fees were passed on to consumers, resulting in higher prices for goods and services purchased over a 15-year period.
After a lengthy legal process, a tribunal has now granted final approval to the £200 million settlement. Crucially, £100 million of this sum is allocated directly to consumers. Any unclaimed funds from the settlement will be donated to the Access to Justice Foundation, supporting wider access to legal aid.
How much compensation are you due?
The compensation amount for eligible individuals is estimated to range from £45 to £70. This figure represents an individual's likely share of the total £100 million specifically allocated to consumers within the £200 million settlement. The precise amount each claimant receives may vary slightly, depending on the final number of valid claims submitted and potentially the volume of their Mastercard transactions during the affected period.
Who is entitled to claim?
Eligibility for compensation is broad, covering a significant portion of the UK population. You are likely eligible if you:
- Resided in England, Wales, or Northern Ireland for at least three months between June 1997 and June 2008.
- Resided in Scotland for at least three months between May 1992 and June 2008.
- Were at least 16 years old during the above periods.
A key aspect of this claim is that individuals do not need to have personally owned or used a Mastercard. The basis of the lawsuit is that the alleged inflated interchange fees caused retailers to increase general prices for all customers to cover these additional costs.
How to make claim
The process for claiming compensation is designed to be straightforward, however, the official claims process has yet to be finalised. We provide the key points below:
- Online registration - Eligible UK consumers will soon be able to register to receive their payment through a simple online form
- Look out for official announcements - Details regarding the specific website and the registration process will be announced shortly. It is advisable to look out for official communications from the class action administrators
- Payment timeline - The timeline has not been confirmed, however, payments are anticipated to be made before the end of 2025
We will update this article as soon as further information becomes available. Make sure that you avoid any unofficial websites or requests for personal financial information that do not come from the verified administrators of the claim.
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