India, June 10 -- A U.S. district judge has given the green light for a proposed $38 billion settlement tied to Visa Inc. (V) and Mastercard Incorporated( MA), stemming from a long-standing antitrust lawsuit filed by over 12 million merchants concerning credit card processing fees.
This decision is a key step in a legal saga that dates back to 2005, though it still needs final approval from the court. This case revolves around interchange fees often called swipe fees that merchants incur whenever customers use credit cards.
Merchants claimed that Visa and Mastercard charged exorbitant fees and enforced rules that hindered competition. Reports indicate that in 2025, merchants shelled out nearly $119 billion in swipe fees just to process ca...