Visa and Mastercard have reached an agreement to cap credit-card swipe fees, concluding a nearly two-decade-long legal battle. This settlement, one of the most significant antitrust agreements ever, involves a $30 billion deal with merchants. The cap on swipe fees is expected to save merchants billions and potentially benefit consumers, though the extent of consumer benefits remains uncertain. The settlement is seen as a victory for merchants and their customers, amidst ongoing concerns about the profit-making practices of credit card companies at the expense of American consumers and businesses.
The Hidden Win For Merchants–And Their Loyal Customers–In The Visa-Mastercard Settlement https://t.co/TVuYUPQ0Ho
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
🇺🇸 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
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/VmgXIcCFvB