Story perspectives

Visa and Mastercard Settle Antitrust Case for $38 Billion

11/11/2025

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Summary

Story summary

Visa Inc. and Mastercard Incorporated announced a revised $38 billion settlement to resolve a 20-year antitrust case.
The deal would lower swipe fees by 0.1 percentage points for five years and cap standard rates at 1.25%.
Merchant groups oppose the deal, saying it does not address concerns raised by U.S. District Judge Margo Brodie.
Supporters, including the Electronic Payments Coalition, say the agreement offers meaningful relief and merchant flexibility.

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Story summary

Visa Inc. and Mastercard Incorporated announced a revised $38 billion settlement to resolve a 20-year antitrust case.
The deal would lower swipe fees by 0.1 percentage points for five years and cap standard rates at 1.25%.
Merchant groups oppose the deal, saying it does not address concerns raised by U.S. District Judge Margo Brodie.
Supporters, including the Electronic Payments Coalition, say the agreement offers meaningful relief and merchant flexibility.