Payment Law Advisor Legal Commentary and Resources for the Payment Industry

Tag Archives: Visa

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

Visa Revises Rules to Permit Discounts on Proprietary, Co-Brand Cards to Foster Its Partnership with Chase

Posted in Deals and Technology, Regulatory and Compliance
We understand that Visa recently revised its rules to permit US issuers and merchants to offer immediate discounts at the point of sale to encourage and reward the use of different types of Visa cards. Visa’s prior rule barred such point-of-sale differentiation among Visa cards. While the rule change could have a broad impact, we speculate that it also ma… 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