Visa Inc. and Mastercard Inc. are close to settling a long-running antitrust lawsuit with merchants over the fees they pay when they accept card payments, according to the Wall Street Journal.
Under the settlement, Visa, Mastercard and a number of banks that issue debit and credit cards including JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp. would pay the merchants around $6.5 billion, some of the people said.
Although it isn’t clear how the payment would be split up among the card networks, in a statement on Thursday, Mastercard said that it plans to increase reserves by $210 million „as a result of advances in negotiations”. Visa says it has put aside $600 million.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
