Skip to Content
AP-National

Visa, Mastercard settle long-running antitrust suit over swipe fees with merchants

By
Published 7:17 AM

Associated Press

NEW YORK (AP) — Visa and MasterCard announced a settlement with U.S. merchants related to swipe fees, a development that could potentially save consumers tens of billions of dollars. 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. According to the settlement announced Tuesday, Visa and Mastercard will cap the credit interchange fees into 2030, and the companies must negotiate the fees with merchant buying groups.

Article Topic Follows: AP-National

Jump to comments ↓

Associated Press

Related Articles

BE PART OF THE CONVERSATION

KVIA ABC 7 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content