Credit Settlement
MasterCard and Visa have settled their suit with retailers including Wal-Mart stores, Sears, Roebuck & Co., Circuit City Stores and Safeway Inc. over the use of debit cards.Visa agreed to a $2 billion settlement and MasterCard agreed to a $1 billion settlement. The dispute stems from the credit-card companies’ requirement that retailers accept debit cards, which carry higher fees for retailers than credit cards.
