MRC: Visa and MasterCard agree to $7.25 billion settlement

On Friday, July 13th, 2012 it was announced that Visa, MasterCard, and a number of large credit card issuers had reached an out of court settlement with US merchants regarding a Class Action Lawsuit on Interchange and card rules.  The settlement is complex and impacts an estimated 7 million or more merchants, not just those involved in the Class Action suit.  The MRC doesn’t get involved with regulatory and pricing issues, however, we had so many merchant members contact us about it, that we wanted to make sure you were aware of the potential impacts on both the US and European merchants processing with US acquirers.
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