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1 month ago

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Visa and Mastercard agree to put a limit on credit card swipe fees.

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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.

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Visa and Mastercard agree to put a limit on credit card swipe fees.

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