The credit card issuing companies Visa and Mastercard signed an agreement of USD 30,000 million, which seeks to reduce the costs of commercial tariffs in the United States in a minimum period of four years.

Both companies, leaders in the global credit card sector, have indicated that the current fee that merchants must pay for swipe at the time of customer purchase is 2 % of the transaction, and they hope to reduce it by at least four points percentages.

The news about this deal, published on Tuesday, March 26, “comes just a month after Discover and Capital One announced a merger that, if approved by financial regulators and shareholders, would create the largest credit card company from the country.”

It is important to clarify that the agreement between Visa and Mastercard still requires approval from the United States District Court for the Eastern District of New York.

In any case, if approved, it will not affect the rewards received by Visa cardholders, nor will it affect access to credit.

M.Pino

Source: CNN

(Reference image source: Emil Kalibradov in Unsplash)

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