![](https://www.pymnts.com/wp-content/uploads/2024/03/Mastercard-Visa.png)
Mastercard Inc. has announced plans to hike certain credit card fees starting April 15, just days after the company, alongside Visa Inc., reached a $30 billion settlement over swipe fees. Bloomberg reports that the move comes despite efforts to provide relief to retail businesses.
The card company intends to raise its network “assessment” fee from 0.13% to 0.14%, translating to a projected annual increase of $259.1 million. The figures are based on Mastercard’s transactions, which surpassed $2 trillion last year. These details were disclosed by the Merchants Payments Coalition, a group of retailers in Washington advocating against higher payment fees. Documents shared with Bloomberg Law revealed the impending fee hike. Retailers argue that any fees levied on banks eventually trickle down to them.
Featured News
Mexico Moves Forward with Reform to Eliminate Key Regulators, Including Competition Watchdog
Aug 23, 2024 by
CPI
DOJ Sues RealPage for Alleged Rent-Fixing Scheme Using AI Software
Aug 23, 2024 by
CPI
Advance Auto Parts to Offload Worldpac for $1.5 Billion
Aug 22, 2024 by
CPI
Bronfman Ups Ante to $6 Billion in Paramount Battle, Skydance Deal at Risk
Aug 22, 2024 by
CPI
Google and California Strike Historic Deal to Fund Newsrooms Amid Controversy
Aug 22, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – State Attorneys General
Aug 22, 2024 by
CPI
CPI Talks… …With Attorney General Phil Weiser
Aug 22, 2024 by
CPI
The Bipartisan Miracle of State Antitrust Enforcement
Aug 22, 2024 by
Gwendolyn J. Lindsay Cooley
Recent Developments in State Antitrust Enforcement: Agriculture and Food Markets
Aug 22, 2024 by
Elizabeth R. Odette
State Attorneys General: Stewards of Consumer Health and Welfare
Aug 22, 2024 by
Brooke Howlett Lovrovich