Last Updated:
First Published:
A decadeslong lawsuit between Visa Inc., Mastercard Inc. and a large cohort of merchants could finally be nearing its conclusion — with potential implications for shoppers if stores choose to limit their acceptance of rewards credit cards.
Visa
V and Mastercard MA each announced Monday morning that they reached a settlement agreement with a merchant group in a suit that stretches back to 2005. The agreement would see the card networks lower interchange fees over time and relax the “honor all cards” policy, which has made it so that merchants accepting one card from Visa or Mastercard have to accept all cards from that network.
