Visa and Mastercard previously reached a $7.25 billion settlement with the merchants in the case, but that deal was thrown out by a federal appeals court in 2016 and the US Supreme Court last year refused to revive it. The deal had been the largest all-cash US antitrust settlement, although its value shrank to $5.7 billion after roughly 8,000 retailers opted out. The card companies have already paid $5.3 billion and will now pay an additional $900 million. Mastercard will pay an additional $108 million from funds set aside in the second quarter, the company said. The settlement must still be approved by a court.

Source: bd News24 September 18, 2018 11:48 UTC