Visa and Mastercard agree to LOWER credit card fees

Visa and Mastercard have agreed to lower credit card fees paid by merchants in a landmark settlement that follows a legal fight lasting two decades.

Both firms will lower the charges that businesses pay to accept credit card fees - often referred to as 'swipe fees' or interchange fees.

The ruling is one of the largest in US antitrust history and business owners say it could save them $30 billion over five years.

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