(Nov 9): Visa and Mastercard are close to settling a 20-year legal spat with merchants, the Wall Street Journal (WSJ) reported, citing unidentified people familiar with the matter.
The credit card companies could lower interchange fees by an average of 10 basis points over several years under the terms of the deal, which is still under discussion, the publication said.
The agreement could also loosen rules that require merchants to accept all Visa or Mastercard credit cards respectively, if they accept any one card from the network.
Court approval would be needed to implement any settlement.
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