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

Posted On: Jul. 31, 2015 12:00 AM CST

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.