Visa and Mastercard near settlement with merchants, would lower fees, WSJ reports
Visa and Mastercard plan to reduce interchange fees from about 2% to near 0.1%, easing acceptance rules and introducing card categories, sources say.
- The Wall Street Journal reported on Saturday that talks have Visa and Mastercard nearing a settlement to lower fees and give merchants more power to reject certain credit cards.
- Under the proposed terms, Visa and Mastercard would lower interchange fees by an average of about 0.1 percentage point over several years.
- Merchants would gain the ability to reject certain types of cards, including premium rewards cards that cost them more.
- The potential deal aims to resolve a 20-year-old legal dispute over interchange fees and acceptance rules.
26 Articles
26 Articles
New deal may soon allow stores to reject rewards credit cards
Merchants pay higher fees when consumers buy products with rewards credit cards
Visa and Mastercard near settlement with merchants, would lower fees: Report
Visa and Mastercard are close to a settlement with merchants. The payment giants will reduce fees stores pay for credit card transactions. They will also give merchants more flexibility to decline certain credit cards. This deal aims to resolve a long-standing legal dispute. The agreement is expected soon and could reshape how businesses handle card payments.
Visa and Mastercard to end 20-year legal feud? Credit card giants mull cutting interchange fees: Report
Visa and Mastercard are close to settling with merchants to lower interchange fees and allow stores to refuse certain credit cards, aiming to end a 20-year legal dispute.
Visa And Mastercard Near Settlement To End 20-Year Merchant Fee Dispute : Report
(RTTNews) - Visa and Mastercard are close to finalizing a settlement with U.S. merchants that could resolve a legal battle dating back two decades. The agreement aims to reduce the fees merchants pay for credit card transactions and grant them greater control over which cards the
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