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MasterCard Newsroom
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Mastercard has reached a settlement with consumers in the united kingdom regarding excessive charges.
On December 4, Gelonghui reported that mastercard reached a settlement agreement with a group of consumers in the united kingdom to resolve a local collective lawsuit related to charges. This is the first collective lawsuit approved in the united kingdom since 2021. The parties did not mention the settlement fee, but Reuters cited sources saying that mastercard agreed to pay £0.2 billion to end the lawsuit. Walter Merricks filed the lawsuit on behalf of 46 million adult consumers in the united kingdom five years ago, arguing that mastercard charged excessively, resulting in consumers paying large additional fees, and therefore sought a refund for the overcharged fees. In October this year, the united kingdom Competition Appeal Tribunal.
AI shopping assistants have contributed to usa's "Cyber Monday" sales surpassing 13 billion dollars, a year-on-year increase of 7.3%.
According to a report by adobe, usa consumers reached an online spending of 13.3 billion dollars this year on "Cyber Monday", which is a 7.3% increase compared to Cyber Monday in 2023, surpassing the 10.8 billion dollars spent online on Black Friday. Caila Schwartz, director of consumer research at Salesforce, stated that generative ai tools can answer basic product queries from online shoppers, helping retailers protect their profit margins despite rising costs.
Mastercard (MA.US) reached a principle agreement to settle the United Kingdom card fee class action lawsuit.
Mastercard (MA.US) has stated that it has reached a preliminary agreement to settle the collective lawsuit brought by British consumers in London regarding card fees. The company stated that in the latest round of appeals court cases, it announced that it has reached an agreement with Merricks, who acts as the collective representative of the plaintiffs, to resolve this case, subject to approval by the arbitration panel. It is reported that the settlement amount is approximately 0.2 billion British pounds.
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