Mastercard settlement approved by UK court despite funders' opposition

Following this announcement, the company mentioned that the Competition Appeal Tribunal had approved an agreement announced in December 2024 in order to settle the long-running litigation over card fees for GBP 200 million (USD 253 million). The lawsuit was approved despite opposition from the firm that funded the litigation. 

In addition, according to officials of the company, Mastercard is expected to continue to focus on providing clients and businesses with an improved payment experience, strong value, and a suite of solutions that are secure and efficient. 

More information on Mastercard’s announcement

The GBP 200 million deal was far below the GBP 10 million valuation previously put on the lawsuit, while the overall dispute over its approval was seen as a key test for Britain’s burgeoning class action sector. At the same time, Innsworth Capital, which funded the litigation and argued the settlement should not be approved, also mentioned that the agreement was unfair and previously said that the deal raised significant policy questions for the regime in the region of the UK as a whole. However, the company did not immediately respond to a request for further comments or details. 

Following this initiative, Mastercard is expected to also focus on meeting the needs, preferences, and demands of customers and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.