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Visa reaches settlement with claimants in UK 'umbrella' interchange litigation

( April 24, 2025, 05:27 GMT | Official Statement) -- MLex Summary: Visa has agreed a settlement with more than 1,800 companies that had sued the payments network over card fees in the UK. The claimants' law firm, Stephenson Harwood, has said the settlement follows a similar agreement with Mastercard struck in June 2024. The "umbrella" proceedings were subject to lengthy court hearings in 2024 and 2025, but "as other claims remain active in the merchant umbrella interchange proceedings, the litigation will continue despite the Stephenson Harwood claimants' settlement with both card schemes," the firm said.Statement follows....

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