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Judge Grants Preliminary Approval for Visa-Mastercard Payment Processing Settlement · Cyprus Report

Business · World

Judge Grants Preliminary Approval for Visa-Mastercard Payment Processing Settlement

1 sourceFirst reported 13 days agoUpdated 13 days ago

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A judge granted preliminary approval for a $38 billion class action settlement involving Visa and Mastercard related to payment processing fees.
The lawsuit, which has been ongoing for two decades, alleges that the two companies engaged in anti-competitive practices impacting merchants and consumers.
The settlement will involve payment to affected merchants but has not yet received final approval from the court.
Stakeholders in the finance and retail sectors are closely monitoring the developments regarding the case and its implications for payment processing costs.
The settlement highlights ongoing concerns about transparency in payment processing fees and their impact on businesses.

Generated by AI from the 1 sources below · always verify with the originals

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Summarising the coverage…

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All coverage (1)

Looking Beyond the Statement Fee at the Real Cost of Payment ProcessingFinextra · 13 days ago

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AI summary: catch up in 20 seconds

A judge granted preliminary approval for a $38 billion class action settlement involving Visa and Mastercard related to payment processing fees.
The lawsuit, which has been ongoing for two decades, alleges that the two companies engaged in anti-competitive practices impacting merchants and consumers.
The settlement will involve payment to affected merchants but has not yet received final approval from the court.
Stakeholders in the finance and retail sectors are closely monitoring the developments regarding the case and its implications for payment processing costs.
The settlement highlights ongoing concerns about transparency in payment processing fees and their impact on businesses.

Generated by AI from the 1 sources below · always verify with the originals