Latest news with #Innsworth
The Irish Sun
18-06-2025
- Business
- The Irish Sun
Millions who were set to get up to £70 in compensation from Mastercard could now be waiting months for payment
MILLIONS of Brits who are eligible for compensation from Mastercard could be forced to wait months for the payment. The credit card company has agreed to a £200million settlement which could mean you are owed money for purchases made years ago. Advertisement 1 Millions of people could be forced to wait months for compensation from Mastercard Credit: AP:Associated Press Around 47million customers could receive compensation of up to £70 each after a landmark legal victory in May. But it could be months until the money is paid out. This is because Innsworth is now trying to challenge how the funds will be shared, according to MoneySavingExpert. Innsworth is a business that helps to fund legal claims, in exchange for a share of the winnings. Advertisement Read more on money But in this instance, Innsworth said the Tribunal that approved the settlement "made a series of errors in its judgement" when deciding how much of the money it should be given. The company has now filed a legal claim called a judicial review to try and get a larger amount. As a result of the new case, the launch of the online claims portal will be delayed, so payouts will also be pushed back. Meanwhile, if Innsworth wins its case and gets more of the £200million, it could reduce the amount of money customers get. Advertisement Most read in Money When was the legal challenge launched? Walter Merricks, a former financial ombudsman, launched the legal claim in 2016. He alleged that 46million British shoppers were ripped off after fees were wrongly levied on transactions made over a 15-year period between 1992 and 2008. Retailers were charged fees by Mastercard to process card payments, and allegedly passed those costs on to customers through inflated prices. Although Mastercard provided the technology for card payments, the case argued its fees led to the overcharging of customers. Advertisement The settlement was approved in May and marked a big victory for consumer rights. But it fell short of the settlement of up to £17billion that Merricks originally wanted. 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. How much could I get? The amount of compensation you will get depends on how many people file a claim. It may now also depend on what share Innsworth walks away with. Advertisement Of the £200million settlement, £100million has been earmarked for consumer payouts. Experts at MoneySavingExpert predict that if just 5% of eligible individuals claim, the payouts could be up to £70. But if more people apply, the payout could fall to around £45. The remaining £100million has been set aside for legal costs and other expenses. Advertisement Am I eligible? You do not need to have ever used a Mastercard to qualify for the compensation. This is because the claim argues that all shoppers were affected by the inflated prices, regardless of how they paid. To qualify for the compensation, you need to match 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? An online claims portal is expected to launch in the coming months on the Mastercard Consumer Claim website, which is managed by legal services firm Epiq. Advertisement Those who think they have been affected will have several months to make their claim online. The process should be straightforward and will require you to confirm your eligibility and give basic personal information such as your date of birth, address and bank details. No supporting documentation will be required. If you are deemed eligible then Mastercard is expected to issue payments within 28 days. Advertisement Individuals will have until the end of 2025 to submit their claims. Do you have a money problem that needs sorting? Get in touch by emailing . Plus, you can join our
Daily Mirror
18-06-2025
- Business
- Daily Mirror
Mastercard compensation payments delayed as new legal challenge launched
The payment card provider has agreed to pay £200million to settle a case against it - with millions of people due up to £70 each Millions of Brits could be forced to wait months for compensation from Mastercard due to a new legal challenge. The payment card provider has agreed to pay £200million to settle a case against it - with millions of people due up to £70 each. Walter Merricks, the former financial ombudsman, argued that 46 million shoppers were ripped off after fees were wrongly levied on transactions between 1992 and 2008. The fees were paid by retailers accepting Mastercard payments, rather than by customers themselves - meaning you don't necessarily need to have owned a Mastercard to be eligible for compensation. The Competition Appeal Tribunal gave its final approval last month - but now, it has been revealed that the online claims portal is being delayed following a legal challenge from a company called Innsworth. Innsworth helped fund the case but is now trying to challenge how these funds will be split. reports that this could see payments delayed by months. You may be eligible for payments if you lived in England, Wales or Northern Ireland for at least three months between June 1997 and June 2008, and you bought goods or services from UK businesses that accepted Mastercard credit cards. If you live in Scotland, the starting point is May 1992. The judgment has ringfences £100million for consumers, and if the expected 5% of claimants – 2.5 million people – come forward, then they will receive £45 each. If fewer claimants come forward, then payments will be capped at £70 per claimant. Once the legal challenge is resolved, an online claims portal will be launched at Commenting on the original outcome of the case, Mr Merricks said: 'I started this case because I believed that Mastercard's fees paid by retailers for processing card transactions had been unlawfully high and virtually all UK consumers had lost out for long periods by paying higher prices than they should have done as retailers passed on those costs. 'As the evidence came to be known through the litigation process, this was the position only in a relatively small proportion of transactions and the settlement reflects that. 'The settlement that has today been finally approved represents a fair and just outcome for UK consumers. On any view, recovering £200 million by way of a settlement for UK consumers is a huge sum, and that will translate into a meaningful impact in the pockets of UK consumers.'
Metro
18-06-2025
- Business
- Metro
Martin Lewis' MSE shares major update on £100,000,000 Mastercard compensation
Last month, Mastercard agreed to pay a total of £100 million in compensation to UK shoppers — but now, Martin Lewis's Money Saving Expert (MSE) warns claimants may have to wait before they receive any cash. A landmark lawsuit against the company, first brought by former financial ombudsman Walter Merricks almost a decade ago, was recently settled out of court for £200 million. Half of this total was then earmarked for consumers, with MSE saying 'millions are in line' to receive payouts of up to £70 each. Plus, as the case concerns processing fees charged to retailers — which were then passed on to shoppers in the form of inflated prices — you don't need to have ever had a Mastercard to qualify. However, in the latest edition of its newsletter, the consumer site explained: 'It could be months until the money is paid out, because a company called Innsworth – which helped fund the case – is now trying to challenge how these funds will be split.' This company 'puts up money to support big legal claims, in return for a share of any winnings' but says the Tribunal approving the settlement 'made a series of errors in its judgment' when deciding how much of it should go to them. As such, Innsworth has filed a judicial review to try and get a bigger cut, which will not only delay claims and payouts but could impact the amount people end up getting. Here's what we know so far. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Even though you can't claim yet, according to MSE, you'll be eligible to do so if you meet all of the following criteria: You lived in England, Northern Ireland or Wales for at least three months in a row between June 20, 1997, and June 21, 2008. Or , you lived in Scotland for at least three months in a row between May 22, 1992, and June 21, 2008. , you lived in Scotland for at least three months in a row between May 22, 1992, and June 21, 2008. You were aged 16 or over during those three months. During the same period, you bought goods or services from a firm selling in the UK – regardless of how you paid. You lived in the UK on September 6, 2016. You haven't previously opted out of the legal case – you would have needed to actively fill in a form to do so, so if this is the first you've heard of the case, it doesn't apply. You don't have to have been part of the legal action before now to be able to claim, and you won't be asked for proof of purchases made during the qualifying period. For those who died before being able to claim, representatives of their estate may be able to do so on their behalf. If you need further details, check out the full list of requirements here. The amount you'll get all depends on the result of the Innsworth court action as well as how many people end up applying. The MSE site explains: 'If the expected number of people claim – roughly 2.2 million based on professional estimates – each person will get £45. 'If fewer people than expected claim, the maximum each person will get is £70… due to a cap that was put in place to avoid people getting disproportionate payouts compared to the alleged loss they suffered. 'If many more people than expected claim, you may only get a few quid. However, this scenario is seen as unlikely based on representative polling and the views of the claims administrator.' Once the Innsworth challenge is resolved, people wishing to claim will be able to do so via the Mastercard Consumer Claim official website. While an exact timeframe for the compensation, which will be administered by legal services firm Epiq, has not been announced, MSE states that once the portal is made available, 'You should have at least a few months to apply using the 'simple online form'.' More Trending Details on what the forms will entail is also yet to be released, but based on previous group legal action, the consumer champion expects it'll involve self-certifying that you meet the criteria by providing personal details like your name, date of birth, and address. You'll likely then be asked to 'attest that the information you've given is true and correct to the best of your knowledge,' with the claims administrator potentially following up with random anti-fraud spot checks. MSE also warned that this scheme could be used by scammers 'as an opportunity to con you out of your money,' so you should beware of adverts, online posts, texts or emails mentioning the claim, and always check the official website before taking any action. Earlier this year, a Mastercard spokesperson welcomed the decision, saying in a statement: 'We will continue to focus on providing consumers and businesses with what they expect from Mastercard – a great payments experience, strong value and peace of mind.' Get in touch with our news team by emailing us at webnews@ For more stories like this, check our news page. View More » MORE: Major UK high street bank could be put up for sale MORE: Full list of 55 NatWest branches that will close in another blow to high street MORE: Full list of 10 Santander branches confirmed to be closing this week Your free newsletter guide to the best London has on offer, from drinks deals to restaurant reviews.
Scottish Sun
18-06-2025
- Business
- Scottish Sun
Millions who were set to get up to £70 in compensation from Mastercard could now be waiting months for payment
Read on to find out if you are eligible for the compensation even if you have never paid with a Mastercard BANK ON IT Millions who were set to get up to £70 in compensation from Mastercard could now be waiting months for payment Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) MILLIONS of Brits who are eligible for compensation from Mastercard could be forced to wait months for the payment. The credit card company has agreed to a £200million settlement which could mean you are owed money for purchases made years ago. Sign up for Scottish Sun newsletter Sign up 1 Millions of people could be forced to wait months for compensation from Mastercard Credit: AP:Associated Press Around 47million customers could receive compensation of up to £70 each after a landmark legal victory in May. But it could be months until the money is paid out. This is because Innsworth is now trying to challenge how the funds will be shared, according to Money Saving Expert. Innsworth is a business that helps to fund legal claims, in exchange for a share of the winnings. But in this instance, Innsworth said the Tribunal that approved the settlement "made a series of errors in its judgement" when deciding how much of the money should be given to Innsworth. The company has now filed a legal claim called a judicial review to try and get a higher amount. As a result of the new case, the launch of the online claims portal will be delayed, so payouts will also be pushed back. Meanwhile, if Innsworth wins its case and gets more of the £200million, it could reduce the amount of money customers get. When was the legal challenge launched? Walter Merricks, a former financial ombudsman, launched the legal claim in 2016. He alleged that 46million British shoppers were ripped off after fees were wrongly levied on transactions made over a 15-year period between 1992 and 2008. Do you have a money problem that needs sorting? Get in touch by emailing money-sm@ Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
The Sun
18-06-2025
- Business
- The Sun
Millions who were set to get up to £70 in compensation from Mastercard could now be waiting months for payment
MILLIONS of Brits who are eligible for compensation from Mastercard could be forced to wait months for the payment. The credit card company has agreed to a £200million settlement which could mean you are owed money for purchases made years ago. 1 Around 47million customers could receive compensation of up to £70 each after a landmark legal victory in May. But it could be months until the money is paid out. This is because Innsworth is now trying to challenge how the funds will be shared, according to Money Saving Expert. Innsworth is a business that helps to fund legal claims, in exchange for a share of the winnings. But in this instance, Innsworth said the Tribunal that approved the settlement "made a series of errors in its judgement" when deciding how much of the money should be given to Innsworth. The company has now filed a legal claim called a judicial review to try and get a higher amount. As a result of the new case, the launch of the online claims portal will be delayed, so payouts will also be pushed back. Meanwhile, if Innsworth wins its case and gets more of the £200million, it could reduce the amount of money customers get. When was the legal challenge launched? Walter Merricks, a former financial ombudsman, launched the legal claim in 2016. He alleged that 46million British shoppers were ripped off after fees were wrongly levied on transactions made over a 15-year period between 1992 and 2008. .
