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Tag Archives: mastercard

Visa and Mastercard Obtain Preliminary Approval of Second Attempt at Interchange Settlement

Posted in Financial Services Litigation and Enforcement, Regulatory and Compliance
On January 24, 2019, Judge Margo K. Brodie of the U.S. District Court for the Eastern District of New York granted preliminary approval of Visa and Mastercard’s second attempt to settle the 13-year old antitrust litigation brought by approximately 12 million merchants, alleging that Visa, Mastercard, and several issuing and acquiring banks cons… Read the rest

Credit Interchange Settlement: The Impact on Selected Future Transactions

Posted in Regulatory and Compliance
Much has been and will be written about the Memorandum of Understanding, filed on July 13, 2012, that sets out the parties’ binding obligation to enter into a class settlement agreement in the long-pending interchange fee antitrust litigation (“MOU”).  Commentators generally have focused thus far on Visa’s and MasterCard’s settlement pay… Read the rest

MasterCard Introduces U.S. Roadmap to Enable Next Generation of Electronic Payments

Posted in Deals and Technology
On January 30, 2012, MasterCard introduced its roadmap for migration from magnetic stripe to EMV technology.  MasterCard states that the roadmap will serve as the foundation for MasterCard’s next generation of products and services developed to enhance the way consumers pay. Chris McWilton, MasterCard President of U.S. Markets states that Master… Read the rest

MasterCard and Western Union Expand Partnership

Posted in Deals and Technology
In December 2011 MasterCard and Western Union announced an expansion of their existing prepaid partnership to include electronic payment features and a global reach in their effort to target the unbanked and under-banked. Prior to this new initiative, the companies jointly provided prepaid services in the United States for about a year. Under the new gl… Read the rest