GemiFinance
Business

Visa, Mastercard in new settlement of credit-based card fee suit

NEW YORK — Visa and Mastercard said Tuesday they should pay $6.2 billion to settle element of a long-running lawsuit through merchants over fees on credit card transactions.

Visa says it’s going to pay $4.1 billion and Mastercard pays about $900 million. The two companies say they've already set-aside money to pay the payment.

A selection of 19 merchants and trade groups alleged Visa and MasterCard conspired to solve fees which are charged to stores to handle credit-based card payments. Tuesday's settlement covers the monetary claims from the lawsuit.

 
The article you requested stop being on BostonHerald.com.
 
» Click here to view this short article during the Associated Press’ archive.

Related posts

Tariffs stirring fear at many US points of entry for imports

admin

Tesla stock falls as CEO Elon Musk may seem to smoke marijuana on video

admin

Solid US job growth will probably be reported for August

admin

Leave a Comment

Skip to toolbar