Visa & MasterCard Settlement Information

Navigating the increasing number of changes in the payments industry can be difficult for companies of any size. At BCMS, we realize the importance of providing proactive information related to industry changes that may have an impact on your business. In support of this, our partner, Elavon, has developed a guide to help you understand the important details related to the Payment Card Interchange Fee and Merchant Discount Antitrust Litigation and the recent settlement proposed by Visa® and MasterCard®.

 

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Settlement Information

Merchant Surcharging

In November 2012, the United States District Court for the Eastern District of New York preliminarily approved a proposed settlement agreement in the In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation. As part of this settlement, Merchants in the U.S. and U.S. territories have the ability to surcharge certain credit card transactions beginning January 27, 2013. Merchants who choose to surcharge once the rule changes take place will be required to follow certain requirements, including disclosure of surcharge practices to customers at the store entry point and at the point of sale. To learn more about Merchant Surcharging, please download the PDF below or visit www.visa.com/merchantsurcharging.

 Factors to consider:

  • What will my customers think?
  • What will I need to disclose to my customers?
  • What will my competitors do?

 

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Merchant Surcharging