Visa and Mastercard reached a $30 billion settlement with merchants to cap credit-card swipe fees, potentially affecting luxury credit card programs. The agreement may lead to increased costs for customers using certain cards, impacting rewards programs and consumer savings. While merchants stand to benefit, concerns arise about the extent of relief for consumers in the long run. The settlement aims to end a legal battle that has lasted nearly two decades, with critics suggesting it may not prevent future litigation.
Capital One’s best argument for its Discover deal would seem to be that the merger would bust up the Visa-Mastercard duopoly. But this deal won’t really do that, @lizrhoffman explains in Semafor Business. https://t.co/6xI7Y5hM5h
Credit card companies continue to profit on the backs of hard-working American consumers and businesses. It is past time to rein in the Visa-Mastercard duopoly. https://t.co/Y9sf7BCAQK
Visa and Mastercard end long running US interchange fee battle https://t.co/Zg4PKxDFTR https://t.co/P0Bukgibkv
🇺🇸 An agreement by Visa and Mastercard to cap swipe fees could save merchants billions. The question is how much it will help consumers. https://t.co/lOEbmlPP9x
"Visa, Mastercard agree to $30B deal with merchants. What it means for credit card holders." (via @bailey_schulz) https://t.co/Mg8aw9qmvB
🇺🇸 A proposed swipe fee deal from Visa & Mastercard causes concern among retailers https://t.co/CbGRSEWWyM
🇺🇸 US retailers set to gain from Mastercard's interchange rate cut https://t.co/euYoOq7XpM
A landmark agreement struck between Visa and Mastercard and millions of US merchants on Tuesday threatens to upend the world of luxury credit card programs in the US https://t.co/vfOgdnKGT0
From @Breakingviews: A $30 billion settlement in a decades-old lawsuit will compel payment networks Visa and Mastercard to let retailers charge customers more to use certain cards. As shoppers take notice, they may cool on fancy rewards programs https://t.co/NFEp88F9F9 #BVTV https://t.co/nk0Z1S4AX0
Visa and Mastercard's $30 billion swipe fee settlement with merchants provides only temporary relief for businesses and won't stop additional litigation, critics say. https://t.co/ro2Arn4B5Z
Visa and Mastercard agreed to cap credit-card swipe fees in one of the most significant antitrust settlements ever as they seek to end a legal fight that spanned almost two decades https://t.co/q1XQp5CRHa