MasterCard Worldwide to Cap Processing Fees
From the Associated Press
MasterCard Worldwide said it would establish a cap on the fees gas stations pay to clear consumer credit cards and would publish a complete list of its so-called interchange fees, which merchants pay for the processing of card transactions.
The move comes as a number of retail groups have filed class-action suits against MasterCard, Visa USA and a number of major banks over interchange fees. The merchants pay those fees indirectly as a component of fees charged to them by their banks.
There was no immediate comment from executives at Visa.
