Visa, Mastercard to lower ‘swipe fees’ in merchant antitrust suit settlement ...Middle East

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Visa and Mastercard agreed to reduce and cap credit card interchange fees as part of a landmark antitrust settlement with U.S. merchants, who say the deal could save tens of billions of dollars over the next five years. "This settlement is the culmination of eight years of hard-fought litigation and detailed, painstaking negotiations,” said Hilliard Shadowen LLP’s Steve Shadowen, co-lead counsel for the merchants, in a statement. “It provides comprehensive market-based solutions to too-high swipe fees, while providing immediate fee relief to merchants as they make these new competitive tools work for them." As part of the settlement, which is still subject to approval by the U.S. Di

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Last updated : 26 March 2024 clock 05:36 PM

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Visa, Mastercard to lower ‘swipe fees’ in merchant antitrust suit settlement ...Middle East

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