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International

MasterCard to pay $61 million to settle credit card fees lawsuit

July 31, 2015 Reprints

MasterCard Inc. will make a payment of $61 million to UK-based retailer Tesco P.L.C. to settle a lawsuit over credit card fees, reports Bloomberg Business.

This payment is part of a multi-billion dollar lawsuit, with Tesco being the largest merchant claimant in this litigation. MasterCard was sued by Tesco in 2014 to “recover the historic overpayment of anti-competitive interchange fees.

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MasterCard to pay $61 million to settle credit card fees lawsuit

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