An Eastern District Judge from New York has approved a settlement agreement in the Payment Card Interchange Fee and Merchant Discount Antitrust Litigation. The exact details of the settlement have not been published, click through to find out what we do know about this so far.
- Beginning January 27, 2013 merchants will be able to charge a surcharge fee when processing VISA credit cards.
- Merchant surcharges are set at a maximum of 4%.
- A notice will need to be posted at store entrances and at point of sale machines in order for merchants to charge a surcharge fee.
- In order to charge a surcharge fee on VISA, you must also charge a surcharge on all other accepted credit cards.
More specifics of this settlement will be released in late December 2012. Here is a link to the press release Visa has posted on their website.
Cart32 will continue to follow this settlement and provide any additional information for you to review. As always, if you have any questions please feel free to contact us by phone at (417) 865-1283 or by email.