London Hotels Sue Visa, Mastercard Over Swipe Fees

By Najiyya Budaly (May 6, 2020, 5:21 PM BST) -- A group of businesses including London hotels Montcalm, Shaftesbury and Park Grand Paddington have launched new claims against Visa and Mastercard over swipe fees that they allegedly overpaid on over the past six years.

The 59 British and European companies, which include insurer Allclear Ltd., brought two separate High Court suits against the U.K. and European businesses of Visa Inc. and Mastercard Inc. on April 16.

They claim the payment giants abused their dominant positions and infringed European Union competition law to force the businesses to pay higher merchant service charges than they would have had to.

The action stems from the European...

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