Visa and Mastercard agree to $38 billion settlement over swipe fees, Simon Taylor confirms

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1 hour ago

Visa and Mastercard agree to $38 billion settlement over swipe fees, Simon Taylor confirms — Visa Mastercard $38 billion settlement

Simon Taylor, co-founder at 11:FS, reports that Visa and Mastercard have settled a 20-year lawsuit regarding swipe fees.

The preliminary agreement, approved by a Brooklyn judge, involves a $38 billion deal with approximately 12 million merchants. The case originally began in 2005 concerning the fees that merchants are required to pay when accepting card payments from customers.

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Simon Taylor has recently commented on other major developments in banking and payments. He highlighted plans by JPMorgan, Citi, Bank of America and Wells Fargo to use a shared blockchain for deposits by 2027. In a separate note, Taylor reported on Jamie Dimon's criticism of Brian Armstrong's stablecoin remarks during a Fox interview. These observations reflect Taylor’s continued coverage of leading players in the payments and banking sector.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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