Visa and Mastercard Swipe Fee Settlement Awaits Review
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On October 17, 2026, Visa and Mastercard jointly filed a response with the court, urging approval of a swipe fee settlement agreement involving more than 12 million merchants. The agreement would reduce credit card interchange fees by 10 basis points and set a 1.25% rate for standard consumer cards, while allowing merchants to refuse some higher-fee premium and commercial Visa and Mastercard credit cards. Walmart and several merchant organizations oppose the proposal, while Visa and Mastercard say the objections repeat arguments the court previously rejected. The court is scheduled to hold a final approval hearing on November 16, and the agreement still awaits the court’s review and approval.
AI-written from reports · updated 2 days ago
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- Payments DiveSelectedVisa and Mastercard urge court to approve swipe fee settlement
Visa and Mastercard filed a joint response with the court, urging approval of a swipe fee settlement involving more than 12 million merchants. The final approval hearing is scheduled for November 16. The agreement would reduce credit card interchange fees by 10 basis points, set a 1.25% rate for standard consumer cards, and allow merchants to decline some high-fee Visa and Mastercard premium and commercial credit cards. Walmart and several merchant groups oppose the proposal, while Visa and Mastercard said the objections repeat arguments the court previously rejected.
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