MasterCard and Visa stocks are trading at their highest levels ever. NurPhoto via Getty ImagesKey FactsVisa intends to up fees in October and Mastercard in April, according to the Journal, citing unnamed sources and documents. The higher fees will force merchants to shell out $502 million more per year, payments consulting firm CMSPI estimated to the paper. TangentCash App and Square parent Block sued Mastercard and Visa last month for allegedly conspiring to overcharge its Square processing platform for transactions. Further ReadingMORE FROM FORBES Better Late Than Never: Federal Reserve Platform Will Finally Bring Instant Payments To More Banks-And Customers

Source: Forbes August 31, 2023 04:56 UTC