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UK high street giants sue Visa over rip-off card fees

Posted By jwilson On July 26, 2013 @ 4:40 pm In Economic Crisis | Comments Disabled

Steve Hawkes
The Telegraph
July 26, 2013

Court papers emerged yesterday which revealed a consortium of retailers led by Asda had lodged papers against Visa Inc. in the High Court on Tuesday.

Sources told the Daily Telegraph the retailers, also including Next, B&Q and Debenhams, wanted to recoup payment processing or interchange fees dating back “ten years”.

It follows a settlement in the US last year where Visa and Mastercard agreed to pay US retailers $7.25 billion – the largest anti-trust settlement in US history.

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