WSJ: Retailers win $1 Billion accord through MasterCard settlement

Jathon Sapsford and Kara Scannell report in the Wall St. Journal on MasterCard’s settlement of the merchant’s debit card lawsuit.

While terms of the settlement weren’t disclosed, people familiar with the matter confirmed that it involved damages of about $1 billion. It isn’t clear whether the settlement will be paid completely in cash.

It also leaves Visa, the other large credit-card brand jointly owned by member banks, alone to face the retailers at trial in New York federal court.

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