US banks to see modest hit from deal to lower swipe fee by Visa, Mastercard [Yahoo! Finance]
Mastercard Incorporated (MA)
Last mastercard incorporated earnings: 4/29 08:00 am
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Source: Yahoo! Finance
and debit card fees for merchants by payments networks Visa and Mastercard, Wall Street analysts said. The antitrust settlement announced on Tuesday is one of the largest in U.S. history. If approved by court, it would resolve most claims in a nationwide litigation that began nearly two decades ago. Swipe or interchange fees, paid by merchants, typically includes small fixed fees plus a percentage of total sale amounts, and averages about 1.5% to 3.5% per transaction, according to Bankrate.com. "On a preliminary basis, we estimate the impact at around 1%-2% of EPS before any mitigation efforts using retail card volumes, but interchange fees can vary significantly by transaction," J.P.Morgan said in a note. POTENTIAL RISKS Brokerage Evercore ISI said the move to reduce and cap interchange fees impacts issuing banks that generate revenue through the charges and will not be financially material to Visa and Mastercard. "The removal of anti-steering restrictions and by enabling c
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MA
Earnings
- 1/31/24 - Beat
MA
Sec Filings
- 4/29/24 - Form 4
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- MA's page on the SEC website