Collyer Bristow is collaborating with Augusta, a leading litigation funder in the SME market, to back a multimillion-pound claim against MasterCard and Visa over their use of multilateral interchange fees (MIFs).
Augusta guarantees to pay 65% of the damages award to claimants who in turn do not have to pay any costs towards funding the litigation.
Collyer Bristow and Augusta are targeting retailers that have a minimum turnover of £80 million in the action based on a ruling by the European Commission against MasterCard that found MIFs harmed competition between merchants’ banks and inflated merchants’ costs for accepting payment cards*.
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