Content about MasterCard

The Retail Industry Leaders Association criticized the proposed swipe fee settlement and urged class plaintiffs to reject the proposal. Announced in July, the proposed settlement stems from lawsuits challenging the anticompetitive swipe fee practices of Visa and MasterCard.

One of the provisions of a proposed settlement with Visa and Mastercard over interchange fees is that the cards will change their rules to allow retailers to begin charging customers a fee -- 1% to 3%, for example -- to cover the swipe fee charged by the card companies. Most readers say they are in no hurry to alienate customers with an extra fee.