PURCHASE, N.Y. – MasterCard, the second largest credit card brand in the U.S., confirmed that its recent decision to cut its consumer interchange rate on its branded debit card by 33% reflected the commitment it had made in settling its recent legal fight with retailers. The cuts go into effect August 1. The association also raised the interchange rate on its regular and corporate credit cards by roughly 1%. Promises to cut interchange and to enter into schedule of payments were parts of the settlement announced by both MasterCard and Visa in late April.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
