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Commercial Card News Brought to You by the NAPCP: Industry Regulation

Visa, MasterCard and others settle lawsuit

Friday, July 13, 2012   (5 Comments)

This is a continuation of news reported earlier by the NAPCP...

Today, Visa, MasterCard and nine banks agreed to a $6+ billion lawsuit settlement through the U.S. District Court, Eastern District of New York (Brooklyn). One element of the settlement is that U.S. merchants will be able to impose a surcharge, if desired, for buyers paying via a card. Historically, the networks' U.S. merchant rules prohibited such a practice.

For details, read the press releases by Visa and MasterCard, available on the NAPCP website.

Members and subscribers, access a summary of the lawsuit settlement.

Members, read more about surcharging.

Not a member or complimentary subscriber? Join today!

Comments...

Lynn Larson says...
Posted Thursday, August 16, 2012
Update: The plaintiffs have until October 19, 2012, to officially ask the court to approval the settlement.
Lynn Larson says...
Posted Friday, July 27, 2012
American Express was not a defendant in this lawsuit.
Sheri Ayoub says...
Posted Friday, July 27, 2012
Was AMEX included in this? I did not see any references to them.
Lynn Larson says...
Posted Wednesday, July 25, 2012
Since the original announcement on July 13, some merchants and merchant groups (e.g., National Association of Convenience Stores) have been speaking out against the settlement. The same is true of Walmart and Target, even though they are not among the 19 plaintiffs.
Sara Almon says...
Posted Friday, July 20, 2012
The impact of the settlement to the structure of State procurements by additional vendor charges. Specifically: o Can we quantify the financial impact of this on procurement activities? o Can we offer incentives for alternative forms of payment in exchange for a discount to offset rates? o Can/Should we require that these are itemized fees or allow them to become fixed final costs of a procurement in product pricing - what are state options? What is the impact to P-Card programs that rely on a volume based rebate fees should volume decrease as a result of added costs? o How many States manage their P-Card program this way? Perhaps NAPCP can gather enough answers from enough States to create a road map regarding this issue that we all can use?

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