Visa has come to an agreement with American merchants to reduce credit interchange rates and set a cap on these rates until 2030. This settlement would provide merchants with more flexibility when dealing with sales transactions, allowing them to favor certain methods of payment and more choice regarding surcharging.In a separate case, Mastercard also announced an agreement to lower its U.S. credit card interchange rates for a set period of five years as a result of a legal settlement with merchants. This would involve a decrease in the published and effective interchange rate on transactions made with U.S.-issued consumer credit and commercial credit cards at American merchant locations. This reduction will act as a cap for the next five years. However, the settlement is still subject to final approval by the Eastern District Court of New York.The material has been provided by InstaForex Company – www.instaforex.com
- Russia’s GDP Monthly Growth Slows to 4.2% in March 2024 - April 27, 2024
- Russia’s Unemployment Rate Drops Slightly to 2.7% in March 2024 - April 27, 2024
- Russian Real Wage Growth Surges to 10.8% in February 2024 - April 27, 2024