Tuesday, July 19, 2005

Retailers Sue Visa, Seek Lower Credit Card Interchange Fees (Gartner Research)

On 15 July 2005, a group of seven large U.S. retailers sued Visa USA over a component of card acceptance fees known as interchange rates. The suit alleges that Visa engaged in price fixing and adopted rules that prevent merchants from negotiating lower rates. A similar class action lawsuit on behalf of smaller retailers was filed recently against Visa USA and MasterCard International.

(Click here to view article - source: Gartner Research)