Official Statement - Visa/Mastercard Propose Swipe Fee Settlement

OFFICIAL STATEMENT - Official Statement - Visa/Mastercard Propose Swipe Fee Settlement

(Austin, TX - November 11, 2025) - Visa and Mastercard are trying once again to buy themselves out of legal scrutiny by offering financial crumbs to a group of merchants who sued them over 20 years ago. Instead of agreeing to free market reforms, the credit card duopoly that controls about 80% of the American market has offered to temporarily lower the swipe fees that banks charge to process credit card payments-leaving Visa and Mastercard free to increase their own swipe fees and erase any savings for local businesses and consumers. The only thing the new proposed settlement tells us is that the advocacy efforts of local businesses in Texas and elsewhere are having an impact. It's time for Visa and Mastercard to end the anticompetitive practices that cost the average American family an estimated $1,700 a year.

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