Advantage Travel Partnership backs civil case to get money back from large card providers
30 Apr 2022
Julia Lo Bue-Said, Chief Executive Officer, Advantage Travel Partnership, announced her support today of the civil case being brought by Harcus Parker a UK commercial litigation firm.
Harcus Parker is bringing a class action on behalf of merchants to get money back from Mastercard and Visa for what they consider to be overcharged Merchant Service Charges in relation to the processing of corporate/commercial cards, and consumer cards used by overseas visitors. The class action is open to all businesses – big and small - who accept these card payments.
Speaking from the company’s annual overseas conference in Madeira today, Lo Bue-Said, said: “Travel businesses have been, and continue to be, overcharged whenever they accept certain payments by Mastercard and Visa-branded cards.
“This is because a large part of the Merchant Charge Fees they pay to their banks – the interchange fees - have been set in advance by Mastercard and Visa themselves rather than by market competition, leading to, we believe, inflated pricing.
“This anti-competitive and unlawful behaviour by the card schemes costs industry a lot of money each year and inflicts even more financial pressure on our members and the wider industry.”
Interchange fees on corporate or commercial cards can average around 1.5% and on consumer cards used by overseas visitors they average around 1.8%.
Jeremy Robinson, Partner, Harcus Parker, added: “We are bringing a class action to get money back from Mastercard and Visa for the overcharges on corporate and commercial cards, and consumer cards used by overseas visitors. The class action is open to all businesses – big and small - who accept these card payments.”
The case being driven by Harcus Parker is fully-funded and fully-insured, meaning that no travel business needs to set aside any budget for taking part, and there is no risk of having to pay costs if the case is unsuccessful.
Advantage is encouraging all its member to take part in the ‘Join the Claim’ campaign, launched by Harcus Parker, and interest can be registered by clicking www.commercialcardclaim.co.uk