Visa and Mastercard have announced an updated settlement in a 20-year legal battle with merchants. The agreement, which still requires approval from the Eastern District Court of New York, was announced by the two payments companies Monday (Nov. 10).
Visa and Mastercard settlement cuts credit card swipe fees by 0.1%, potentially saving consumers. But the retail advocacy group NRF doesn't believe that's enough.
Visa and Mastercard have reached a settlement with merchants that will provide more flexibility and options to control how they receive payments from customers.
Visa and Mastercard announced a revised settlement with merchants who accused the card networks of charging too much to accept their credit cards, after a judge rejected an earlier $30 billion accord as inadequate.
A proposed settlement in a long-running merchant lawsuit would give stores more freedom to block rewards cards, but it remains to be seen if they'd risk angering customers.
Visa and Mastercard have reached a revised settlement with merchants who accused the card networks of charging too much to accept their credit cards, according to a Monday court filing.
Visa and Mastercard's 20-year legal battle over interchange fees is reportedly winding down. The two payment giants are close to a settlement with merchants that will reduce the fees stores pay and give them more freedom to reject certain cards, The Wall Street Journal (WSJ) reported Saturday (Nov.
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