People who lived in England, Wales or Northern Ireland for at least three months between June 1997 and June 2008 could be eligible for a cash payment of approximately £70 from a Mastercard compensation settlement. The payout follows a tribunal's approval of a settlement in legal action against Mastercard relating to historical charges imposed by the card provider.
Individuals do not need to have possessed a Mastercard to qualify, according to consumer journalist Louise Minchin, who featured on BBC Morning Live. She described it as "good news for millions" who are entitled to compensation ranging from £45 to £70.
Who is eligible to claim
Consumers qualify if they resided in England, Wales or Northern Ireland for a minimum of three months between June 1997 and June 2008, and purchased goods or services from UK businesses that accepted Mastercard credit cards. Ms Minchin said: "You don't need to have had a Mastercard to be eligible for it."
Ms Minchin explained the background: "Mastercard was accused of charging unlawful fees to more than half a million businesses in the UK, and those were on transactions that were processed through its network, and that was between 1992 and 2008."
She added: "There are claims that actually prices and what happened so that included major supermarkets accepting Mastercards. What happened is they were charging these unlawful fees and those fees were essentially passed on to customers in higher retail prices which means that going back to your point even those who have never had a Mastercard could have been affected."
How much you could receive
The amount each person receives will depend on how many people apply. Ms Minchin said: "It's estimated each of us should receive £45, but it could be up to £70 if not so many people apply. And as I said, you do not have had to have a master card in order to be eligible for it."
To be eligible, claimants must meet all of the following conditions, as set out by Ms Minchin:
- Lived in the UK for at least three consecutive months between 1997 and 2008 for England, Northern Ireland, and Wales. The exact period is the 20th of June 1997 and the 21st of June 2008. For Scotland, it is slightly different: 22nd of May 1992 and 21st of June 2008, due to different legal rules around time limits.
- Aged 16 or over during the entirety of those three months. Anyone born on or after the 22nd of March 1992 isn't eligible to claim.
- Bought goods or services that accepted Mastercards for non-business purposes, including all supermarkets. Ms Minchin added: "It isn't necessary that you owned or used a Mastercard to make those purchases."
- Were living in the UK on September 6, 2016.
- Have not previously opted out of the legal case.
Ms Minchin concluded: "So, there you go. Basically, if you shopped in a supermarket in the UK and you're over 34, you are likely to be able to make a claim."
The claims process has not yet started, but when it does, people will be able to make a claim.
