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UK: Retailers seek extra $1.6B from MasterCard swipe-fee suit

 |  September 29, 2014

A group of UK retailers suing MasterCard for what it claims to be anticompetitive interchange fees is reportedly seeking an extra $1.6 billion in damages from the credit card company, arguing that the standard six-year limit on damages does not apply in this case.

The suit, lead by WM Morrison Supermarkets, is now seeking to extend damages as far back as 1992, reports say. A legal representative for the supermarket chain said that MasterCard’s behavior “is deliberate breach of competition law.”

The plaintiffs’ extended damages request was revealed in a pre-trial filing. Court documents also show that the retailers are also seeking a court order to force MasterCard to hand over internal e-mails on grounds that the company tried to hide information regarding how interchange fees are set.

Top retail chains including Wal-Mart and Deutsche Bahn have also sued MasterCard over the swipe-fees in the UK. The practice of charging stores every time a consumer pays with a credit or debit card has also taken scrutiny from authorities in the EU and US.

Full content: Bloomberg

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