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How to get up to £70 compensation from Mastercard – even if you've never paid with one
MILLIONS of Brits could be in line for compensation from Mastercard, even if they've never paid with or owned one.
A £200million settlement means you might be owed money for purchases made years ago.
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Around 47million customers could receive compensation of up to £70 each following a landmark legal victory in May.
Walter Merricks, a former financial ombudsman, first launched the legal claim back in 2016.
He alleged that 46million shoppers in Britain were ripped off after fees were wrongly levied on transactions made over a 15-year period between 1992 and 2008.
Here's how to check if you're eligible and claim your share.
Why is Mastercard paying out?
The payout stems from a group legal claim, initiated by former financial ombudsman Walter Merricks back in 2016.
Merricks argued that between 1992 and 2008, Mastercard 's high transaction fees unfairly burdened shoppers.
Retailers charged fees by Mastercard to process card payments, and allegedly passed those costs onto consumers through inflated prices.
While Mastercard provides the technology for card payments, this case argued that their fees led to overcharging of consumers.
The settlement, approved in May, is a significant victory for consumer rights, but it falls short of the initial £10-17billion Merricks originally sought.
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How much could you get?
The amount of compensation depends you get will depend on how many people file a claim.
Of the £200million settlement, £100million is earmarked for consumer payouts.
Experts from predict that if only a small percentage (around 5%) of eligible individuals claim, payouts could reach up to £70.
However, if more people apply, the payout will likely be around £45.
The remaining £100million will cover legal costs and other expenses.
Am I eligible?
You do not need to have ever used a Mastercard to qualify for compensation.
The claim argues that all shoppers were affected by the inflated prices, regardless of their payment method.
To qualify for compensation, you must meet all of the following criteria:
You lived in the UK (England, Wales or Northern Ireland) for at least three consecutive months between June 20, 1997, and June 21, 2008. For those who lived in Scotland, the period extends from May 22, 1992, to June 21, 2008.
You were aged 16 or over during the relevant period.
You purchased goods or services in the UK during this time for non-business purposes. You won't need to provide proof of purchase.
You were still living in the UK on September 6, 2016 (when the claim was filed).
How do I make a claim and when will I be paid?
An online claims portal is expected to launch in the coming weeks on the Mastercard Consumer Claim website, managed by legal services firm Epiq.
Those who think they've been affected will have several months to submit their claims online.
The process will be straightforward, requiring you to confirm your eligibility and provide basic information like your date of birth, address, and bank details for payment.
No supporting documentation will be required.
If deemed eligible, Mastercard is expected to issue payments within 28 days, with individuals having until the end of 2025 to submit their claims.
MERRICKS VS MASTERCARD
2015
New rules under the UK's Consumer Rights Act 2015 mean collective claims can be made.
2016
Mr Merricks starts a lawsuit claiming that Mastercard overcharged shoppers.
2017
Mr Merricks claim was dismissed by the Competition Appeal Tribunal (CAT), as was an application to appeal the decision.
2018
The Court of Appeal ruled that Mr Merricks be allowed to appeal the CAT decision.
2019
Mr Merricks' appeal was heard by the Court of Appeal and the decision was upheld.
Mastercard was then given permission to appeal that decision by the Supreme Court.
2020
After hearing the appeal, the Supreme Court dismissed it and ruled the case could go ahead.
2021
After hearing the case, the CAT ruled in Mr Merricks favour.
2022
Mastercard's final challenge was dismissed in the Court of Appeal.
Late 2024
Mastercard and Merricks reach a proposed settlement.
2025
The Competition Appeal Tribunal is due to hear the settlement on February 19.
Spring 2025
The Competition Appeal Tribunal gave its final approval to the £200million settlement in the long running class action against Mastercard.
