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Written by: RJ
The Wall Street Journal is reporting Visa and Mastercard are nearing a settlement with retailers in the long running battle for interchange fees:
Visa and Mastercard are nearing a settlement with merchants that aims to end a 20-year-old legal dispute by lowering fees stores pay and giving them more power to reject certain credit cards, according to people familiar with the matter.
Under terms being discussed, Visa and Mastercard would lower credit-card interchange fees, which are often between 2% and 2.5%, by an average of around 0.1 percentage point over several years, the people said. They would also loosen rules that require merchants that accept one of a network’s credit cards to accept all of them.
Thoughts
There was a tentative deal back in 2024 to lower fees that didn’t get finalized/approved. Let’s see if this one gets a handshake.
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