KEY TAKEAWAYS:

Proposed settlement allows merchants to limit acceptance of high-tier Visa and Mastercard cards.

Merchants may pass higher fees to customers or deny premium rewards cards at checkout.

Settlement includes temporary swipe fee reductions: 10 basis points for five years, standard 1.25% for eight years.

Merchant groups oppose settlement, urging Congress to regulate interchange fees instead.

Visa and Mastercard have proposed a settlement in their long-running legal dispute with merchants and retailers over how much they charge merchants to accept their cards.

The most important part of the settlement could directly impact how customers use their Visa- and Mastercard-issued credit cards , and may result in some consumers getting denied at the point-of-sale for pur

See Full Page