Mastercard and Visa Reach $38 Billion Swipe Fee Settlement
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Mastercard and Visa Reach $38 Billion Swipe Fee Settlement
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Visa, Mastercard settlement could impact the fees you pay, rejections of some cards
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Visa and Mastercard To Lower Fees—What It Means For You
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Visa and Mastercard To Lower Fees—What It Means For You
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NewsweekJordan King
Soon, Visa cards may no longer be accepted at every store. Visa and Mastercard have reached a $38 billion settlement allowing stores to decide which credit cards to accept. The settlement also calls for lower swipe-fee charges and opens the door for merchants to add a 3% surcharge. Financial coach Bernadette Joy tells “Morning in America” the settlement could make checkout more complicated for shoppers. | NewsNation
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Visa and Mastercard have announced a $38 billion settlement with retailers who accuse the card networks of charging too much to accept their credit cards. Under the settlement, the card companies would lower their swipe fees by about one tenth of a percent over five years. | Today Show
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