Mastercard sued for $19 billion in UK's biggest ever damages claim
 

Mastercard sued for $19 billion in UK's biggest ever damages claim
http://i.amz.mshcdn.com/WqODd3D2A9Ex...-586899862.jpghttp://a.amz.mshcdn.com/assets/feed-...50839a8e00.jpghttp://a.amz.mshcdn.com/assets/feed-...32c6f24ba1.jpg
Mastercard is in trouble in the UK.*

The payment company is facing a lawsuit that's demanding £14 billion, or $19 billion, that could be distributed to as many as 46 million people, according to Reuters.*

Mastercard allegedly charged high fees to stores to process debit and credit payments, passing those fees onto consumers through higher prices. The suit alleges Mastercard allowed this practice between 1992 and 2008.*

The $19 billion claim could be the biggest in UK history, the firm behind the suit says.

SEE ALSO: PayPal Takes On Square, Launches 'PayPal Here' Credit Card Reader


Mastercard denied the claims of the lawsuit in a statement Friday.* Read more...

More about Debit Card, Credit Card, Lawsuit, Mastercard, and Businesshttp://feeds.feedburner.com/~r/Mashable/~4/smiD8xqNrNQ