Harcus Parker is a UK law firm that has recently launched a class action against credit card giants Visa and Mastercard. The law firm is representing millions of UK consumers who have allegedly been overcharged by these companies in recent years.
The aim of the class action
The class action, which is currently underway, aims to recover billions of pounds in interchange fees that were allegedly illegally charged to UK consumers. According to Harcus Parker, Visa and Mastercard conspired to set high interchange fees, which were passed on to consumers in the form of transaction fees.
Why are Visa and Mastercard accused of illegal overcharging?
The law firm claims that the charges have cost UK consumers billions of pounds over the past few years, making it one of the largest class action lawsuits in British history. If the class action is successful, consumers could be compensated to the tune of several hundred pounds each.
The Harcus Parker class action is the latest in a series of lawsuits against Visa and Mastercard around the world. In 2019, Visa agreed to pay $13 billion to settle a class action in the US, while in 2020 Mastercard was ordered to pay $15 billion to settle a similar class action.
Harcus Parker said that UK consumers deserve to be compensated for the illegal fees they paid and that the law firm will continue to work hard to get justice for its clients. If the class action is successful, it could pave the way for further class actions against companies that overcharge consumers.
Who can join the collective action?
The collective action is open to all individuals and businesses that made bankcard payments in Europe between 1992 and 2018.
Thus, individuals, SMEs, large companies and charities that made transactions with a Visa or Mastercard during this period can potentially join the collective action.
It is important to note that those who wish to join the collective action must meet certain criteria. Firstly, they must have made payments by Visa or Mastercard during the specified period. Secondly, they must reside in one of the European countries where the law allows collective actions, such as the UK, France, Germany, Italy, Spain, the Netherlands, Belgium and Austria.
How to join the class action?
If you are affected and wish to join the class action, you can register online at the class action website, or contact the law firm Harcus Parker directly. You will be asked to provide credit card transaction information and proof of purchase such as receipts or statements.
It is important to note that there is no up-front fee to join the class action, but Harcus Parker’s lawyers will be paid a portion of the compensation they receive if the class action is successful. There is therefore no financial risk for those wishing to join the class action.
Finally, it is recommended to join the collective action as soon as possible, as there is a deadline for registration, and compensation may be reduced if the number of participants is large. By joining the class action, consumers can enforce their rights and obtain compensation for excessive interchange fees charged by Visa and Mastercard for more than 25 years.