Interchange fees

Visa Inc. and Mastercard Inc. agreed to pay as much as $6.2 billion to end a long-running price-fixing case brought by merchants over card fees, the largest-ever class action settlement of an antitrust case.

The growth and dominant market share position of payment cards in U.K. retail sales is prompting a new pushback from retailers who are wary of rising network fees.

The Tennessee regional said the sale should boost quarterly profit by $160 million.

The U.S. companies agreed to reduce the average annual interchange rate in Canada by 10 basis points to 1.4 percent on cardThe new rate takes effect in 2020 and runs for five years. The government estimated that small and medium-sized businesses could save C$25,000 over the period.

Kroger Co., the largest U.S. supermarket chain, said a California subsidiary will stop accepting Visa credit cards beginning next month in a dispute over swipe fees.

Mark Horwedel, the outgoing Merchant Advisory Group CEO, wasn't always on the merchants' side. Through much of the 1970s through 1990s, his career path placed him firmly in the world of bankers.

Though Costco is no longer called out in the New York issuer's earnings calls, the loss of that business added fuel to a change within the company that is showing results.

This week's ruling from a U.K. appeals court is the latest of many episodes in a battle between merchants and card brands that has influenced regulations, technology, market strategies and nearly all other aspects of the payments ecosystem.

Visa Inc. and Mastercard Inc. are getting close to settling a 13-year-old lawsuit over fees charged when merchants accept card payments, according to a person familiar with the agreement.

American Express prevailed Monday in an eight-year antitrust battle with the government. Here’s a look at how other card networks, banks, retailers and consumers will be affected.