Mastercard

American Express is considering big changes to the way it processes payments in a bid to stop fraud on lost or stolen contactless cards which have been cancelled, MoneySavingExpert.com can reveal.

A tribunal hearing in January will determine if a historic class action lawsuit against Mastercard can go ahead – the next stage in a landmark case which could potentially see 40 million consumers each receive £100s in compensation.

A landmark damages claim against Mastercard that could put £100s in the pockets of around 46 million UK consumers has been filed at the Competition Appeal Tribunal (CAT) this morning.

A former financial services ombudsman is launching an unprecedented legal bid to secure £19 billion compensation from Mastercard over charges that were passed onto shoppers, claiming some 40 million UK consumers could each receive hundreds of pounds in damages.

A former financial services ombudsman is launching an unprecedented legal bid to secure £19 billion compensation from Mastercard over charges that were passed on to shoppers, claiming some 40 million UK consumers could each receive hundreds of pounds in damages.

Travellers with a Ukash prepaid card will be hit with a raft of new charges from April. But they WON'T have to pay if they want to cancel the card before then, as the firm's now backtracked on plans to charge a £9-£11 closure fee.

A data breach at an unidentified online retailer could have led to credit card users having their account details "compromised", MoneySavingExpert has learned. Tesco Bank has already cancelled some of its customers' cards as a precaution and users of cards from other companies are likely to be affected.

The pound's hit it's best rate against the euro for eight years, meaning holidaymakers tripping to Europe find it far cheaper than in recent memory. Currently it's hovering around £1 buys €1.43 - €1.44, a year ago it would've bought you just €1.24.

Update August 2016: This news story was written in May 2015, though we've done further analysis on the Mastercard and Visa rates since then, and the logic is still the same – Mastercard still usually comes out the winner. We will do a full update of this article soon...