Settlement for Payment Card Interchange.

Settlement for Payment Card Interchange.

A meeting of the top executive minds of martial litigants to antitrust the litigation that challenged the way in which the credit card networks set to interchange fees that are paid by merchants to the card customers when they make a payment came to an end just a few months ago, after years of extremely expensive litigation and a comprehensive evidentiary process.

In addition, despite the well-publicized efforts of the disgruntled retailers to organize opposition to the agreement, the settlement will eventually be presented to the final judge for approval as time passes. In conclusion, the Judge’s decision is consistent with a long-standing case that has consistently held that Visa V +0.68 percent and MasterCard MA +1.5 percent’s interchange fees do not violate antitrust law.

Even though there was no evidence of a violation, the settlement just gives merchants billions of dollars and the most important privilege they’ve wanted for a long time: the right to charge customers who choose to pay with a credit card the necessary fees (along with the long-standing authorized right to offer discounts for paying with cash).

Additionally, the settlement gives retailers the opportunity to bargain interchange fees collectively. Additionally, and most importantly for everyday consumers, the resolution maintains the belief that interchange fees must be set by market developments rather than politicians or judges by simply refusing to denounce the process by which transaction fees are well established as anticompetitive.

The antitrust claims made by the retailers are, without a doubt, extremely implausible at the outset: Is it true that MasterCard and Visa have collaborated with retail giants in order to provide customers with free journal subscriptions and frequent flyer miles? That has been the real core of the retailer’s case up until this point. It should come as no surprise that the overwhelming majority of customers have possibly realized that a prompt payment is available to them.

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