Mastercard Reports Updated Class Settlement Agreement

Summary

On November 10, 2025, Mastercard and Visa entered an updated Class Settlement Agreement with court-appointed counsel for an injunctive rules relief class of merchants. This agreement settles claims related to business practices, including network rules, and is subject to final approval by the Eastern District Court of New York. Upon final approval, Mastercard will have resolved all pending U.S. merchant litigations seeking changes to its interchange structure and merchant acceptance rules. Both Mastercard and Visa agree to a 10 basis point reduction in the average systemwide effective interchange rate on U.S.-issued consumer and commercial credit transactions. The agreement activates a simplified approach to credit card transaction surcharging, offering merchants more optionality. It also provides merchants with increased flexibility in accepting consumer and commercial credit cards.

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Key Quote

“- Both Mastercard and Visa agree to provide a 10 basis point reduction in the average systemwide effective interchange rate on U.S.-issued consumer credit and commercial credit transactions at U.S. merchant locations.”

— From Item 8.01

Filing Details