Credit card giants Mastercard and Visa agree $30m settlement amount for merchant charges
A decadeslong antitrust saga has come to a close as Mastercard and Visa have agreed on a settlement of a rumored $30 million to limit the fees merchants face. Merchants have been pursuing a settlement for close to ten years after charges made by both credit card companies via transaction fees were seen to be hitting the pockets of businesses large and small. What does this mean for merchants?The details of the settlement were laid out in a press release from Mastercard titled “Mastercard Commits to Lowering U.S. Interchange for Small Businesses and Broader Merchant Community” today. Visa would...