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HomePeer to Peer LendingFintech Nexus E-newsletter (March 26, 2024): Visa and Mastercard attain historic antitrust...

Fintech Nexus E-newsletter (March 26, 2024): Visa and Mastercard attain historic antitrust settlement on interchange charges

There are huge adjustments coming to the world of interchange.

Right this moment, in a historic settlement, Visa and Mastercard have agreed to cap card interchange charges as they search to finish a authorized battle that has spanned nearly twenty years.

As a part of the settlement, Visa and Mastercard have agreed to cut back the interchange charges by no less than 4 foundation factors for no less than three years and for 5 years, the typical interchange have to be final least seven foundation factors under in the present day’s common.

One other huge a part of this deal is that retailers will now be free to cost completely different costs based mostly on the price of accepting completely different bank cards. This might have a profound impression on the premium rewards card market.

It’s estimated that these price rollbacks will save retailers round $30 billion a 12 months. Whereas there’s speak this can result in decrease costs for customers rely me as very skeptical this would be the case.

However it can impression these banks and fintechs counting on interchange for income.

> Visa, Mastercard Attain $30 Billion Swipe-Price Deal With Retailers 

Visa Inc. and Mastercard Inc. agreed to cap credit-card swipe charges — a deal that US retailers say will save them no less than $30 billion over 5 years — in one of the vital important antitrust settlements ever as they search to finish a authorized battle that spanned nearly twenty years.

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  • Peter RentonPeter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media firm centered on fintech. Peter has been writing about fintech since 2010 and he’s the creator and creator of the Fintech One-on-One Podcast, the primary and longest-running fintech interview collection.



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