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Final settlement signed in VisaCheck/MasterMoney antitrust trial

Lloyd Constantine of Constantine & Partners, the lawyer representing the merchant class in the antitrust case against Visa U.S.A. and MasterCard International, announced today that the final settlement agreements for this lawsuit have been signed by the parties involved.

“The pay out to merchants will be easy, fair, and equitable. The payment
amount will be based on a merchant’s volume of debit card transactions between
October 25, 1992 and the May 2003 settlement,” said Lloyd Constantine, the
lead counsel for the merchants and a principle in the New York firm
Constantine & Partners. “The changes in Visa and MasterCard’s business
practices, beginning August 1, will bring even larger economic benefits for
merchants as offline debit interchange fees drop. In the long run, this
settlement offers more choice and a positive pricing effect for consumers.”

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