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Businesses still have time, but not a lot, to claim their part of a $5.5 billion class-action settlement stemming from Visa and Mastercard’s alleged fee overcharges, attorneys said.. The ...
In March 2024, a settlement in the injunctive relief portion of the payment card interchange fee case was announced to reduce what are known as "swipe fees" for merchants in the U.S. This change, set to last five years, was expected to save retailers about $30 billion and mark the end of a long-standing legal battle over antitrust issues ...
A final concern is that companies like Visa and Mastercard may increase the fees they charge merchants to use their cards in the first place, offsetting any reduction in swipe fee revenue they ...
Swipe fees are paid to Visa, Mastercard and other credit card companies in exchange for enabling transactions. Merchants ultimately pass on those fees to consumers who use credit or debit cards.
A federal judge overseeing a $30 billion preliminary swipe-fees settlement between Mastercard, Visa and retailers formally rejected the deal Tuesday. The ruling likely means the credit card ...
A federal judge Tuesday rejected a $30 billion antitrust settlement between Visa, Mastercard and a select group of retailers that was decried by the larger industry. Visa and Mastercard, which ...
Credit card companies don't work for free. Every time you use one, the store you're buying from is charged a "swipe fee" — and that charge will get passed down to you in higher prices.
Typically, swipe fees cost merchants 2% of the total transaction a customer makes — but can be as much as 4% for some premium rewards cards, according to the National Retail Federation. The ...