The latest legal manoeuvre comes after years of legal battles over so-called “swipe” fees retailers must pay credit card in each transaction. PHOTO: FILE
US credit card giants Visa and Mastercard sued retailers that rejected a multibillion-dollar settlement over transaction fees and asked the court to rule the fee practices weren’t illegal.
The latest legal manoeuvre comes after years of legal battles over so-called “swipe” fees retailers must pay credit card in each transaction. Last year Visa and MasterCard agreed to pay more than $6 billion to millions of merchants.
Published in The Express Tribune, May 27th, 2013.
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