Visa and Mastercard to Limit Swipe Fees, Providing Relief for Merchants

Tuesday, 26 March 2024, 22:18

Visa and Mastercard have reached an agreement to cap swipe fees, a move expected to save merchants a total of $30 billion over the next five years. This settlement also grants merchants the flexibility to adjust prices in accordance with the expenses associated with accepting various credit cards.
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Visa and Mastercard to Limit Swipe Fees, Providing Relief for Merchants

Visa and Mastercard Set to Cap Swipe Fees

The recent agreement between Visa and Mastercard is set to bring significant benefits to merchants, potentially saving them $30 billion over the course of five years. This move aims to provide relief and greater predictability in transaction costs for businesses.

Flexible Pricing Model Introduced

  • Merchants' Savings: The arrangement would enable merchants to adjust their prices based on the expenses linked to processing different credit cards, enhancing cost-control measures.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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