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The agreement would be the latest turn in a long-running saga that has seen the credit-card companies offer multiple settlements over the last decade only to see them fail to end the battle.

Nov 09, 10:52 PM IST 2 min read

Visa Inc. and Mastercard Inc. are nearing a settlement to resolve a 20-year legal dispute with merchants, potentially reducing interchange fees by an average of 10 basis points over several years. The agreement may also relax rules for merchants regarding card acceptance and allow surcharges on credit card transactions. This legal battle, ongoing since 2005, has seen multiple failed settlements.

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