Visa (V), MasterCard (MA), Retailers Enter $7.25B Settlement
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Shares of Visa (NYSE: V) and MasterCard (NYSE: MA) are trading nicely higher Monday morning following news late Friday of a $7.25 billion settlement with US retailers. While Visa shares are up about 3 percent in pre-open action, shares of MasterCard are up 2.9 percent to $442.
The antitrust suit was related to fees for credit and debit cards, specifically, for the "swipe fees" paid to retailers. These transaction costs will be reduced by about 10 basis points for eight months, according to the settlement. Retailers will now be able to collectively negotiate terms of the swipe fees they receive.
Additionally, merchants will now be required to give customers detailed information on the swipe fees.
The antitrust suit was related to fees for credit and debit cards, specifically, for the "swipe fees" paid to retailers. These transaction costs will be reduced by about 10 basis points for eight months, according to the settlement. Retailers will now be able to collectively negotiate terms of the swipe fees they receive.
Additionally, merchants will now be required to give customers detailed information on the swipe fees.
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