Visa and MasterCard have agreed to cap credit card fees for purchases, a deal that will save at least $30 billion over five years. This is in one of the most important antitrust settlements ever in their quest to end a legal battle that has spanned nearly two decades.
The deal, which is subject to court approval, will also allow retailers to charge consumers extra for using Visa or MasterCard credit cards, and use pricing methods to direct customers to lower-cost cards.
Source (Al-Khaleej Emirati Newspaper, Edited)
