April 2023


Financial giants Visa and Mastercard threatened by Harcus Parker law firm class action

The class action lawsuit brought by law firm Harcus Parker against financial giants Visa and Mastercard seeking compensation for businesses that suffered unfair surcharges on credit and debit card payments made between 1992 and 2008 is a case that is attracting the interest of business law experts and the media worldwide. The case could have significant implications for the credit and debit card payments industry, and could lead to changes in the business practices of these financial giants.

The class action was launched in 2016 and is open to all businesses located in Europe that made credit and debit card payments between 1992 and 2008. According to law firm Harcus Parker, the companies could be eligible for up to several billion dollars in compensation if the class action is successful.

Interchange fees

To understand the case, it is important to understand how interchange fees work. Interchange fees are charged by credit and debit card networks to merchants each time a transaction is made with their card. Merchants negotiate interchange rates with the card networks, but these rates are often set by the card networks unilaterally, without merchant input.

Interchange rates can vary between card types and countries, but are generally between 1% and 3% of the transaction value. These fees are often seen as a form of hidden tax, as they are not clearly displayed to consumers.

The class action

The Harcus Parker class action alleges that Visa and Mastercard illegally charged excessive interchange fees to European businesses for years, resulting in additional costs for those businesses. The law firm believes that these fees were excessive and that Visa and Mastercard took advantage of their dominant market position to impose these fees on European businesses without their informed consent.

The class action is supported by thousands of European businesses that have been affected by these unfair surcharges. Harcus Parker worked hard to gather the necessary evidence to support his case, and the case finally went to court in 2020, after the financial giants failed to reach a settlement with the law firm.

The implications of the case

On the credit and debit card industry

If the class action lawsuit results in compensation for the European companies, it could cost Visa and Mastercard billions of dollars. The case could also have significant implications for the entire credit and debit card payments industry.

On the companies involved:

If Visa and Mastercard are found guilty of illegally charging excessive interchange fees, this could prompt other companies in the industry to review their practices and pricing policies. It could also have an impact on the relationship between businesses and consumers with regard to payment processing fees.

On consumers:

It is also possible that end consumers may benefit indirectly. If businesses benefit from reduced costs related to payment processing fees, this could translate into lower prices for the products and services they offer.

Interested businesses should provide information on their use of Visa and/or Mastercard credit and debit card services during the period 1992 to 2008. The information required includes transaction data, account statements and payment service contracts.

Possibility of using a legal representative :

Businesses can also appoint a legal representative to represent them in the class action, and it is recommended that they do so to ensure effective communication with Harcus Parker Law Firm throughout the case.

The website provides full information on the application process and the stages of the class action. Companies can also contact the law firm directly for help and advice.

If Harcus Parker wins the case:

If the class action is successful, businesses could receive significant compensation for the excessive payment processing fees charged to them by Visa and Mastercard. The amounts of compensation will depend on several factors, including the number of businesses involved and the total amount of surcharges charged.

Ultimately, Harcus Parker’s class action lawsuit against Visa and Mastercard represents an opportunity for European businesses to recover amounts wrongly charged by the two payment services giants. Interested businesses are encouraged to learn more about the class action and to consider joining this lawsuit to enforce their rights and obtain fair compensation.

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What Investors Are Looking For In IP

Securing finances for a new business or venture requires a lot of work. One area entrepreneur should not skip is the intellectual property protection because protection is not only vital to owners, but to curious investors as well. Plus, it can be used as a leveraging tool for marketing and sales. Interested in finding out more? Check out the infographic below for a quick review on why IP protection is essential when establishing a new business.

Infographic provided by Bold Patents, experts on design patent
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Investing in the Stock Market Like a Pro

Investing in the share market can seem daunting for beginners. The complex industry can appear challenging and tough to navigate, but with the right guidance, anyone can invest in the share market like a pro. Sharemarket investing is about patience, knowledge, and picking the right stocks or investment products that align with your investment objectives.

This blog post will guide you through the process of investing in the share market like a pro. We will cover the fundamentals of share market investing, setting investment goals, choosing the right investment vehicles, building a diversified investment portfolio, and other crucial tips and strategies to succeed in the share market.

Understanding the Share Market and its Potential

Share markets are places where company stocks, bonds, and other securities are traded. Stock trading involves buying and selling shares of a company or a portfolio of companies. When you purchase shares, you own that company. As the company grows and profits, the value of its shares increases, and investors earn dividends or profits when they are sold.

How investing in the share market can be profitable

Investment potential in the share market is high, and dividends or profits are significant. If you invest in the right stocks or portfolios, your investments could generate substantial returns. Historical research shows that the share market has yielded an average annual return of 10% over the long term. This makes it a favorable investment opportunity for long-term growth.

Setting Investment Goals

Before you invest in the stock market, it’s a must to identify your investment goals. Are you investing for short-term or long-term goals? Are you saving for a child’s education or planning for retirement? Identifying your investment objectives is essential to establishing a clear and realistic plan of action.

Creating a financial plan aligned with your goals

After identifying your investment objectives, you need a solid financial plan. It is important to align the plan with your goals and take your financial situation into account. It should outline your investment objectives and the steps you’ll take to achieve them. A well-crafted financial plan helps you stay focused on your goals, track your progress, and make informed decisions.

Choosing the Right Investment Vehicles

Before you start investing, you should understand the different types of investment vehicles available on the share market. These include stocks, bonds, mutual funds, exchange-traded funds (ETFs), and more. Each investment vehicle has a distinct risk profile and returns potential that you should analyze free demat account before investing.

Analyzing the risks and returns associated with each investment

Once you understand the different types of investment vehicles, you need to analyze the risks and returns associated with each. Risk refers to the possibility of losing your investment, while returns refer to the potential for gains from your investment. Each investment has a distinct risk and return profile that you should consider before investing.

Building a Diversified Investment Portfolio

A diversified investment portfolio spreads your investments across multiple securities to reduce risk and maximize returns. A balanced allocation of assets ensures you spread your money across multiple investment vehicles and risk levels. This ensures that you do not have all of your eggs in one basket and reduces your exposure to risk.

Maintaining your investment portfolio for long-term growth

Maintaining your investment portfolio is crucial for long-term growth. It involves balancing and updating your portfolio regularly to reflect market changes and your investment objectives. A well-maintained investment portfolio gives you better control over your risk and potential returns.

Additional Strategies for Succeeding in the Stock Market

Besides how to invest in share market, several additional strategies can help you succeed. These include extensive research, utilizing financial tools and software, and consulting with financial experts knowledgeable in share market investing.


Investing in the share market requires time, patience, and knowledge. Understanding the fundamentals of share market investing is only the first step to succeeding in the market. Setting investment goals, choosing the right investment vehicles, building a diversified investment portfolio, and maintaining your portfolio is crucial for maximizing returns and minimizing risk. By following these strategies and consulting with experts, anyone can invest in the share market like a pro.

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