Visa, Mastercard Swipe Fee Deal Fails to Stem More Litigation

Visa Inc. and Mastercard Inc.'s $30 billion swipe fee settlement with merchants provides only temporary relief for US businesses and won’t stop additional litigation against the payment networks, critics say.

The companies this week announced an agreement to cap credit-card swipe fees and allow merchants to steer consumers to cheaper payment options in order to end multidistrict litigation dating back to 2005. Merchants are expected to save $30 billion in swipe fees, also known as interchange fees, over five years.

But others aren’t convinced the settlement does enough. Target Corp., Starbucks Corp., Foot Locker Inc. and Crate & Barrel are ...