V/MC Steering Antitrust Settlement
The proposed settlement agreement between Visa and MasterCard and the Justice Department allows merchants to offer discounts or other incentives for paying with credit or debit cards with lower processing fees.
Merchants would be allowed to:
- Offer consumers an immediate discount or rebate for using a particular credit card network, low-cost card within that network or other form of payment.
- Express a preference for the use of one credit card network or form of payment over another.
- Promote a particular credit card network, card or other form of payment through posted information or other communication with customers.
- Communicate to consumers the cost incurred by a merchant when they use a particular credit card network, type of card or other form of payment.
American Express chose not to agree to the settlement. The case could result in a ruling striking down the settlement.