E
Visa and Mastercard agree to put a limit on credit card swipe fees.
The proposed settlement, which stems from a years-long legal battle, will require Visa and Mastercard to lower swipe fees for merchants by 0.04 percentage points for three years, while capping these rates into 2030.
Even though it may seem like the deal will lower fees for customers, that may not be the case for everyone. The settlement will allow retailers to charge more when customers use premium cards that offer cashback rewards and other perks, as these come with higher swipe fees.
Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates.
Loading comments
Getting the conversation ready...
Most Popular
Most Popular
- Anker’s new window-mounted camera monitors the outside of your home from within it
- Sam Altman addresses RAM comments: People should ‘put as much as they want in their computers’
- The touchscreen MacBook Pro is a winner
- Discord is ditching Electron and its new app uses less RAM
- Those Jeff Bezos hair transplant photos are very fake
