More

    Asda and Morrisons settle lawsuit against Mastercard

    Photo: iStock

    Supermarket chains Asda and Morrisons have settled a multi-million pound lawsuit against Mastercard over fees charged to retailers.

    The two companies reached an agreement with the global payments processor and withdrew their cases on Tuesday, according to an order published by the Competition Appeal Tribunal (CAT). The terms of the settlement are confidential.

    “We’re pleased to have settled and will continue to work with Asda and Morrisons on convenient, safe and secure electronic payments in their stores,” a spokesperson for Mastercard said in a statement.

    A Morrisons spokesperson said in a statement: “We have settled our claim and are no longer in dispute with Mastercard.” Asda declined to comment.

    The lawsuits were two of several cases brought against Mastercard in relation to so-called multilateral interchange fees (MIFs), which retailers pay credit card companies when consumers use a card to shop.

    In 2020, the UK Supreme Court ruled the MIFs charged by Mastercard and its rival Visa were an unlawful restriction of competition.

    A five-week trial to determine how much compensation Mastercard should pay to Asda and Morrisons was due to begin on Jan. 30, but will now not take place.

    Latest

    Bestway announces major summer campaign for retailers

    Wholesaler Bestway Wholesale has launched a major summer campaign...

    ‘Shoppers more likely to splurge in stores with digital display’

    People are more likely to splurge in a store...

    Manchester-based confectionery wholesaler joins Sugro UK

    Sugro UK, the member-owned buying and marketing group comprising...

    Major cyber outage leaves stores with cash-only option

    Major supermarkets, including Morrisons, are among stores affected by...

    Don't miss

    Bestway announces major summer campaign for retailers

    Wholesaler Bestway Wholesale has launched a major summer campaign...

    ‘Shoppers more likely to splurge in stores with digital display’

    People are more likely to splurge in a store...

    Manchester-based confectionery wholesaler joins Sugro UK

    Sugro UK, the member-owned buying and marketing group comprising...

    Major cyber outage leaves stores with cash-only option

    Major supermarkets, including Morrisons, are among stores affected by...

    Share tobacco track and trace technology with police: NBCC

    The National Business Crime Centre (NBCC) has called for...

    Bestway announces major summer campaign for retailers

    Wholesaler Bestway Wholesale has launched a major summer campaign offering "smoking hot deals" to support its customers across its nationwide depots, and online. In...

    ‘Shoppers more likely to splurge in stores with digital display’

    People are more likely to splurge in a store with digital displays while a good portion of the younger generation think digital displays enhance...

    Manchester-based confectionery wholesaler joins Sugro UK

    Sugro UK, the member-owned buying and marketing group comprising of over 90 independent wholesalers, today (19) announced the expansion of its membership with the...