June 28, 2018Blog Posts

Visa, Mastercard Close to Settlement With Merchants Over Card-Swipe Fees: Report

CNBC

Visa and Mastercard are close to settling a long-running antitrust lawsuit with merchants over the fees they pay while they accept card payments, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Under the settlement, Visa, Mastercard and a number of banks that issue debit and credit cards including JPMorgan Chase, Citigroup and Bank of America would pay the merchants around $6.5 billion, the report said, citing some of the people.

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