The Economic Times

Visa and Mastercard $38 billion swipe fee settlement gets preliminary approval after 20-year legal battle - what it means for merchants, credit card fees and consumers

Visa Mastercard swipe fee settlement explained: A major legal battle over credit card swipe fees has advanced. A US district judge has given preliminary approval to a $38 billion settlement involving Visa and Mastercard. This agreement aims to reduce processing fees for merchants. The settlement could also impact rewards cards and allow merchants to pass costs to customers.