Page 194 - Mastercard News Today

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The card giants have agreed to lower swipe fees, but that may not move the needle much on pricing for consumers.

Visa and MasterCard have settled a Class action lawsuit that will Pencil out to about $30 billion for US merchants.

Visa and Mastercard have reached a £30bn settlement to lower card fees for merchants in a landmark antitrust case that began in 2005. The credit companies deny any wrongdoing, but the settlement will result in lower swipe rates and more discretion for businesses to offer discounts.

Visa Inc. and Mastercard Inc. have agreed to cap credit-card swipe fees -- a deal that U.S. merchants say will save them at least $30 billion over five years -- as they seek to end a legal fight that spanned almost two decades.

The settlement reached between U.S. merchants and Visa and Mastercard could potentially save consumers tens of billions of dollars.

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A bipartisan group of lawmakers is pushing a bill they say would fight inflation. It would remove expensive credit card “swipe fees,” which small businesses pay. Jeff Burdett heads the Federation of Independent Business in Texas, which supports the so-called “Credit Card Competition Act.” He says re

Visa Inc. and Mastercard Inc. have agreed to cap credit-card swipe fees -- a deal that U.S. merchants say will save them at least $30 billion over five years -- as they seek to end a legal fight that spanned almost two decades.