Re: Visa, Mastercard Agree to Lower Swipe Fees in Settlement

On Tue, 26 Mar 2024, JAB wrote:

Visa and Mastercard agree to $30 billion settlement that will lower
merchant fees
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Two of the world's largest credit card networks, Visa and Mastercard,
as well as the banks that issue cards with them, agreed to settle a
decades-long antitrust case brought upon by merchants.
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The settlement is set to lower swipe fees merchants pay when customers
make purchases using their Visa or Mastercard by $30 billion over five
years, according to a press release announcing the settlement Tuesday
morning.
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https://www.cnn.com/2024/03/26/economy/visa-mastercard-swipe-fee-settlement/index.html
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As more/more customers used Visa/MC, their infrastructure cost did not
rise in sync with this added demand.
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Analogously, cellphone paradigm, very expensive in earlier days, but
plan prices dropped/dropped with time as more customers came onboard.
>
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Globally or only in the US? It seems to me like American express could easily muscle in on their market if they only wanted. But for some reasing their strategy seems to be to only cater to the luxury markets.