Tag: Interchange fees

Visa, Mastercard are close to swipe-fee agreement

Visa Inc. and Mastercard Inc. are getting close to settling a 13-year-old lawsuit over fees charged when merchants accept card payments, according to a person familiar with the agreement. The two card companies and banks including JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp. would pay merchants about $6.5 billion under the…
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June 28, 2018 0

Amazon’s checking account push shows next target: Swipe fees

Jeff Bezos changed the way America shops. Now, he wants to change how it pays for things. With a foray into financial services, Amazon.com could disrupt the decades-old card payments system, a move that some say could save the retailer $250 million a year in swipe fees. That could be bad news for the likes…
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March 10, 2018 0