On July 14, we blogged about the pending changes in credit card transactions due to a multi-billion dollar agreement between retailers and Mastercard and Visa over the latters’ tactics.
Now, there is a chance that this agreement may unravel. As Andrew R. Johnson and Ann Zimmerman report in the Wall Street Journal: ” Wal-Mart Stores Inc. on Tuesday urged merchants to reject a pending multi-billion-dollar settlement reached by Visa Inc. and MasterCard Inc. in lawsuits filed by retailers over credit-card processing fees. Target Corp. and the National Association of Convenience Stores, which is a plaintiff in the class-action suit, also have opposed the deal. Though Wal-Mart and Target aren’t plaintiffs in the class actions, they are members of the plaintiff class and will have the chance to opt out of parts of the class settlement. If enough merchants opt out, it could derail the deal.”
Click the image to read the original agreement.
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