Excessive fees for EC card payments damage the trade
Traders had to pay fees amounting to 0.3 percent of the relevant sales, which has been determined by the credit institutions for EC Card payments. Since 2014, the fees for EC Card payments have been individually negotiable and as a consequence have fallen significantly. In part, a reduction of costs of up to 40% was established.
Who has been damaged in this case?
The excessive fees had to be paid primarily by the business. Affected traders should check the amount of the compensation claim.
Has the cartel been determined by the federal cartel office or the EU commission?
Neither the EU Commission nor the Federal Cartel Office has initiated any official antitrust proceedings. At the instigation of the Federal Cartel Office, however, the German credit institutions have committed to agree the fees freely with the business.
What compensation amount is predicted?
The amount of the resulting damage is to be determined by expert opinion. For this, it is determined which fee would have been likely if the fee had not been fixed. Approx. 30-40% of the fees paid by the business represent the damage.
When do claims become time-barred?
Limitation periods can be different according to the cartel and conditions of your particular case. CREDITALE will happily check the limitation period. Please contact us here.