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The Wall Street Journal: Visa, Mastercard near settlement over card-swipe fees

Visa Inc. and Mastercard Inc. are close to settling a long-running antitrust lawsuit with merchants over the fees they pay when they accept card payments, according to people familiar with the matter.

Under the settlement, Visa V, +0.25% Mastercard MA, +0.97% and a number of banks that issue debit and credit cards including JPMorgan Chase & Co. JPM, +1.24% Citigroup Inc. C, +1.67% and Bank of America Corp. BAC, +1.50% would pay the merchants around $6.5 billion, some of the people said. It is not clear how the payment would be split up among the card networks and the issuing banks.

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