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Discover the ongoing Visa and MasterCard antitrust case along with the recent settlement proposal, focusing on swipe fees and fee control until 2030. Explore strategies for merchants to navigate changes in card networks, including adjusting surcharges and negotiating fees.
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Quick takeaways
- Visa and Mastercard proposed an antitrust settlement to cap swipe fees, potentially saving merchants $30 billion by 2030.
- Merchants may benefit from reduced swipe fees and increased flexibility but express concerns over Visa and Mastercard's continued dominance.
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Visa and MasterCard propose a settlement to control swipe fees
Visa and MasterCard have proposed a settlement to American merchants to cap swipe fees until 2030, potentially saving merchants around $30 billion. The current system involves merchants paying a merchant discount fee to accept card payments, with fees distributed among various entities. Visa and MasterCard's dominance in the market has limited merchants' ability to switch networks and subjected them to rules like the Honor All Cards Rule, affecting their costs and flexibility.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode