Visa, Mastercard To Reduce Credit Interchange Rates For Merchants - Quick Facts

(RTTNews) - Visa (V) has agreed to a settlement with U.S. merchants lowering credit interchange rates and capping those rates into 2030. The company said the settlement gives merchants greater flexibility at the point-of-sale, including the opportunity to steer to preferred payment methods and more optionality around surcharging.

Separately, Mastercard (MA) announced it has reached an agreement to reduce its U.S. credit card interchange rates for at least a five-year period as part of a legal settlement with merchants. Mastercard will reduce the published and effective interchange rate on U.S.-issued consumer credit and commercial credit transactions at U.S. merchant locations. The interchange reduction will serve as a cap for a period of five years. The settlement is subject to final approval by the Eastern District Court of New York.