The Hill
A federal judge Tuesday rejected a $30 billion antitrust settlement between Visa, Mastercard and a select group of retailers that was decried by the larger industry.
Visa and Mastercard, which control a combined 80 percent of the credit card network market, agreed in March to limit interchange fees they charge retailers who accept their card.
As part of the preliminary agreement, which was subject to approval by the judge, the credit card giants agreed to roll back so-called swipe fees by at least 4 basis points for at least three years and cap their fees at 2023 levels for the next five years.
The full order appears to be sealed, but according to the docket entry, “the Court finds that it is not likely to grant final approval to the Settlement and accordingly denies Plaintiffs’ motion for preliminary settlement approval.” more
We use cash here in Texas more than we ever used in in Canada. I rarely even carried cash there.
Considering that there are those who want to be able trace everything we do, it makes sense to use cash as much as possible.
I see younger people buying candy bars or bottled water with a credit card quite often, they think they’re getting rich on 3% cash back.
Yeah….I use my plastic a lot, especially for on line purchases.
But I pay it off every month.