Google sues Visa and MasterCard over interchange fees

Google sues Visa and MasterCard over interchange fees

Google is suing Visa and MasterCard over the card giants' interchange fees, alleging that they violated federal antitrust law.

In a move first picked up by Law360, Google filed the suit in Texas federal court just before Christmas, claiming Visa and MasterCard charged "supracompetitive" interchange fees between 1 January 2004 and 28 November 2012. The search firm's suit asks for "actual damages" but stops short of providing a figure.

In July 2012 US retailers reached a $7.25 billion class action settlement with Visa and MasterCard over credit card interchange fees, seemingly ending a seven-year legal dispute.

However, Google opted out of that deal, just one of many players to turn its back on the agreement and file suit. Last March Wal-Mart went to court, claiming that it suffered "enormous" losses because of interchange, asking for damages of $5 billion.

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