Visa (V), Mastercard (MA) to raise credit card fees - WSJMA +0.51% Add to/Remove from Watchlist V +0.38% Add to/Remove from WatchlistVisa (NYSE: ) and Mastercard (NYSE: ) are reportedly preparing to raise their credit card fees, as reported by the Wall Street Journal. The potential revisions may lead to an increase of around $502 million in yearly fees for merchants, as estimated by CMSPI, a consulting company specializing in merchant services. In 2022, U.S. merchants reportedly paid approximately $93 billion in credit card fees to Visa and Mastercard, according to the Nilson Report. Platforms like Visa and Mastercard dictate the fees merchants must pay. Visa and Mastercard shares rose over 1% on the news.

Source: Wall Street Journal August 30, 2023 13:28 UTC