Mastercard fights inclusion of 14 million dead clients to UK class action

Mastercard is fighting off attempts to include about 14 million dead people as claimants to a $19.3 billion British class action on alleged overcharging that occurred between May 1992 and June 2008.

Lawyer Mark Hoskins, who is representing the global payment processor, told London’s Competition Appeal Tribunal (CAT) that a claim cannot be brought in the name of a deceased person. He added that an application to add customers who died between 1992 and 2008 in the suit was a “nullity”.

Former financial ombudsman Walter Merricks, who is leading the claim, alleges Mastercard charged retailers excessive “interchange” fees and that those fees were passed on to consumers as retailers raised prices.

Mastercard supposedly overcharged around 60 million people in Great Britain, including about 14 million who have since died, over the period.

The case could entitle adults and their estates to roughly 300 pounds each if successful.

Hoskins said attempts to add new parties, or their administrators, personal representatives, executors, or next of kin was also time-barred. The company is also resisting attempts to add compound interest to the claim.

The case was brought to the CAT in 2016 but was blocked by the tribunal in 2017.

However, the UK Supreme Court in December allowed the action to proceed.

Mastercard says it “fundamentally" disagrees with the claim, noting that people benefitted from its payments technology and that the lawsuit is driven by US lawyers and backed by money-making organizations.