Millions of UK residents could be eligible for a cash payout of between £45 and £70 following a tribunal-approved settlement in a class action lawsuit against Mastercard. The compensation stems from historic fees levied by the card provider between 1992 and 2008.
Consumer journalist Louise Minchin appeared on BBC Morning Live to explain the payout, saying it was “good news for millions” of people. She emphasised that individuals do not need to have ever owned a Mastercard to qualify.
Who is eligible for the payout
To be eligible, claimants must have lived in England, Wales or Northern Ireland for at least three consecutive months between 20 June 1997 and 21 June 2008. For Scotland, the qualifying period is different, running from 22 May 1992 to 21 June 2008, due to different legal rules around time limits.
Claimants must have been aged 16 or over during the entirety of those three months. Anyone born on or after 22 March 1992 is not eligible to claim. They must also have bought goods or services from UK businesses that accepted Mastercard credit cards for non-business purposes, including all supermarkets.
Why the compensation is being paid
Ms Minchin explained that Mastercard was accused of charging unlawful fees to more than half a million businesses in the UK on transactions processed through its network between 1992 and 2008. These fees were allegedly passed on to customers in higher retail prices, meaning even those who never held a Mastercard could have been affected.
“You don’t need to have had a master card to be eligible for it,” she said. The amount each person receives will depend on how many people apply. “It’s estimated each of us should receive £45, but it could be up to 70 if not so many people apply.”
Other conditions and next steps
Claimants must also have been living in the UK on 6 September 2016 and must not have previously opted out of the legal case. Ms Minchin added: “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 application process has not yet started, but when it does, people will be able to make a claim online.
