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August 19, 2021Blog Posts

UK court sets scene for $14 bln-plus class action against Mastercard

Reuters

 A London court on Wednesday approved a 10 billion pound-plus ($14 billion-plus) class action against global payments processor Mastercard (MA.N) that claimants said could entitle 46 million British adults to roughly 300 pounds each if it is successful.

The Competition Appeal Tribunal (CAT) had been expected to certify Britain’s first mass consumer class action, brought by former financial ombudsman Walter Merricks, after the UK Supreme Court overruled objections to it in December. read more

The decision to finally authorize the five-year case as a collective action establishes a standard for a string of other proposed class actions that have been stalled in its wake.

“Mastercard has thrown everything at trying to prevent this claim going forward, but today its efforts have failed,” Merricks said in a statement.

Mastercard's new logo suggests a future where payment is digital - Vox

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Crypto. The buzzword you hear everywhere from the news to friends hyping it up. Has the craze gone mainstream and reached businesses?

Big names like Microsoft, AMC, Starbucks, and AT&T are in, but what do small businesses think? The Strawhecker Group (TSG) used new survey data from nearly 600 small businesses in the U.S. to illustrate their knowledge, attitudes, and acceptance of cryptocurrency.

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Payments professionals across the ecosystem will find this infographic to be a great resource as the market continues to evolve. Are you working with merchants on a crypto strategy?

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