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Mastercard and Visa Reach $38 Billion Swipe Fee Settlement

Mastercard and Visa Reach $38 Billion Swipe Fee Settlement

Visa and Mastercard have announced a $38 billion settlement with retailers who accuse the card networks of charging too much to accept their credit cards. Under the settlement, the credit card companies would lower their swipe fees by about one tenth of a percent over five years. » Subscribe to TODAY: https://www.youtube.com/@TODAY TODAY ...

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Soon, Visa cards may no longer be accepted at every store. Visa and Mastercard have reached a $38 billion settlement allowing stores to decide which credit cards to accept. The settlement also calls for lower swipe-fee charges and opens the door for merchants to add a 3% surcharge. Financial coach Bernadette Joy tells “Morning in America” the settlement could make checkout more complicated for shoppers. | NewsNation

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