Visa and Mastercard are set to reach a settlement with U.S. merchants aimed at lowering credit card payment fees. The agreement comes as merchants continue to voice concerns over high transaction costs associated with card payments. Visa and Mastercard have faced scrutiny from retailers who argue that these fees can significantly impact their bottom line. As part of this settlement, the companies will work with merchants to establish new fee structures that are more favorable than current rates. This initiative is part of an effort to address ongoing disagreements between payment networks and retailers over the costs of credit card transactions.
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