All articles tagged with #mastercard
Visa and Mastercard will pay a total of $167.5 million to settle a class action lawsuit alleging they conspired to keep ATM access fees high, with funds distributed to affected ATM users since 2007, amid ongoing legal challenges related to ATM and debit card practices.
Visa and Mastercard will pay a total of $167.5 million to settle a class-action lawsuit alleging they conspired to keep ATM access fees high, with funds distributed to affected ATM users since 2007, amid ongoing legal challenges related to ATM and debit card practices.
Visa and Mastercard have proposed a settlement that could allow merchants to discriminate between different tiers of their credit cards, potentially leading to declined rewards cards or surcharges for consumers, amid ongoing litigation over interchange fees. The settlement also includes temporary fee reductions but faces opposition from merchant groups who argue it doesn't go far enough to address interchange fee issues.
A proposed settlement between Visa, Mastercard, and merchants could allow merchants to discriminate against high-reward credit cards by refusing to accept higher-tier cards or passing on higher fees to consumers, potentially leading to declined transactions for rewards cardholders.
Visa and Mastercard have proposed a settlement that could allow merchants to discriminate between different tiers of their cards, potentially leading to declined high-reward credit cards or surcharges for consumers, amid ongoing litigation over interchange fees. The settlement also includes temporary fee reductions but faces opposition from merchant groups who argue it doesn't go far enough, and it does not involve American Express or debit cards.
Visa and Mastercard have reached a deal to resolve a long-standing dispute with merchants, ending ongoing conflicts over payment practices.
Visa and Mastercard have reached a proposed settlement with U.S. merchants to lower interchange fees over five years, potentially reducing costs for retailers and consumers but also affecting consumer rewards. The deal offers merchants more flexibility in accepting different categories of credit cards and is subject to court approval.
Visa and Mastercard have reached a revised settlement with merchants over swipe fees, which involves lowering fees slightly and providing more acceptance options, ending a 20-year legal dispute; the deal still faces approval and may face opposition from some merchants.
Visa and Mastercard are close to a settlement ending a two-decade legal dispute with merchants, involving a reduction in interchange fees by about 10 basis points and relaxed acceptance rules, potentially allowing merchants to impose surcharges on their cards.
Mastercard is in advanced talks to acquire stablecoin infrastructure firm Zerohash for around $1.5 to $2 billion, aiming to expand its presence in the growing stablecoin market, which has seen a significant increase in market cap and regulatory support this year.
Mastercard is in late-stage negotiations to acquire crypto startup Zerohash for up to $2 billion, marking a significant move into stablecoin infrastructure and crypto payments, amidst a broader industry trend of major companies investing in stablecoins and blockchain technology.
Mastercard denies involvement in recent censorship of adult games on platforms like Steam, claiming it only enforces existing rules against illegal or offensive content through its payment network, while critics argue the company indirectly influences content restrictions via its processing partners, highlighting ongoing debates over morality and free speech in gaming.
Mastercard denies pressuring platforms like Steam and itch.io to restrict NSFW games, despite Valve claiming Mastercard's rules influenced their content policies. The controversy highlights ongoing tensions over adult content in gaming and the role of payment processors in content moderation.
Valve disputes Mastercard's claim that it did not raise concerns over NSFW adult content on Steam, revealing that Mastercard expressed concern through intermediaries and cited its rules against 'patently offensive' content, which could impact the distribution of adult games and lead to self-censorship among developers.
Mastercard's policy on lawful transactions is ambiguous, allowing for vague discretion that can lead to censorship of certain industries like NSFW games. The article advocates for legal reforms to classify payment networks as common carriers, ensuring non-discrimination and transparency, while criticizing current profit margins and regulatory failures. It discusses the complexities of international law, the limitations of current payment infrastructure, and the need for government-led public services to ensure access and privacy, emphasizing that private companies often externalize costs and restrict access based on political or reputational risks.