WASHINGTON – The National Retail Federation said a proposed new class action settlement, which purports to resolve claims that Visa and MasterCard set credit card swipe fees in a multi-billion dollar price-fixing scheme, largely resembles part of an agreement that both a federal appellate court and the retail industry had already rejected. “The monetary settlement
WASHINGTON — Two recent Supreme Court decisions offered good news to retailers regarding their ongoing fight over the fees they pay on credit and debit card transactions. Late last month the Supreme Court declined to hear an appeal that sought to reinstate a $7.25 billion antitrust settlement of price-fixing charges against MasterCard Inc. and Visa
NEW YORK — An appeals court ruling has struck down the 2012 settlement of a class-action lawsuit over credit card swipe fees imposed by Visa and MasterCard. The settlement had been opposed by a significant portion of the retail industry. The case originated in a 2005 lawsuit filed by 19 retailers and trade associations against
SAN FRANCISCO — Walgreens has begun offering Visa Checkout to its online shoppers. Visa said Tuesday that the drug chain was among several new Visa Checkout merchants, including Starbucks, NFL Shop, HSN and Match. Walmart.com will also is slated to start supporting Visa Checkout this year, according to Visa. With Visa Checkout, customers create an
The switch to chip-enabled payment cards is moving forward, but there’s still a ways to go, even as the deadline looms. The inter-industry Payments Security Task Force (PST) said Wednesday that its eight financial institutions reported that 30% of their U.S. consumer credit and debit cards contain EMV chips as of June 30. These issuers
NEW YORK — After credit card companies and some of the nation’s largest banks agreed to pay more than $7 billion to settle a price-fixing case dealing with swipe fees, the future of the deal was put in jeopardy when several retailers objected to the terms of the pact. The settlement must still be approved
