Retailers including a major supermarket chain are bringing legal action against Mastercard and Visa amid a processing fees row.
20 high street firms have launched a legal challenge against the credit card giant, hiring law firm Humphries Kerstetter to seek £300 million in damages.
The challenge relates to alleged losses they acquired from fixed interchange fees, a small sum charged to retailers every time a card transaction takes place.
Tesco and WH Smith recently won a similar case, securing a settlement on interchange fees while Sainsbury‘s won a £68 million case against Mastercard last summer.
Humphries Kerstetter have not revealed the companies involved, but stated those involved were known high street brands including retailers, restaurants and betting shops. It added that a “large number” more were considering joining the group.
Interchange fees are the focal point of a lengthy dispute between retailer‘s and card companies after the European Commission voiced concerns over fixing costs, leading to a cap on interchange fees permanently.