• Visa, Mastercard in new settlement of credit card fee suit

    8 monthes ago - By Chron

    NEW YORK - Visa and Mastercard say they and several banks will pay $6.2 billion to settle part of a long-running lawsuit brought by merchants over fees on credit card transactions.
    Visa says it's paying $4.1 billion and Mastercard is paying about $900 million. The two companies say they've already set aside money to cover the payment.
    A group of 19 merchants and trade groups alleged Visa and MasterCard conspired to fix fees that are charged to stores for handling credit card payments. Tuesday's settlement covers the monetary claims in the lawsuit, but a lawsuit over their network rules is...
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  • Visa, Mastercard and others to pay $900 million more in amended settlement over card-swipe fees

    8 monthes ago - By CNBC

    Visa's share of the additional settlement payment is $600 million, while Mastercard agreed to pay $108 million on a pre-tax basis, according to Securities and Exchange Commission filings.
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  • Visa and Mastercard Will Pay $6 Billion to End a Massive Price-Fixing Lawsuit

    8 monthes ago - By Fortune

    Visa and Mastercard agreed to pay as much as $6.2 billion to end a long-running price-fixing case brought by merchants over card fees, the largest-ever class action settlement of an antitrust case.
    The two card companies will pay between $5.54 billion and $6.24 billion to settle the claims, according to a filing Tuesday. Visa and Mastercard had previously set aside $5.3 billion with the court to settle the claims. Earlier this year, as the two sides drew closer to an agreement, they put aside an additional $900 million to help cover the settlement amount.
    "After years of thoughtful...
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  • Visa, Mastercard reach $6.2 billion settlement over card-swipe fees

    8 monthes ago - By Reuters

    Visa Inc , Mastercard Inc , and a number of banks on Tuesday agreed to pay $6.2 billion to settle a long-running lawsuit brought by merchants over the fees they pay when they accept card payments.
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