Visa, Mastercard Reach $30 Billion Swipe-Fee Deal With Merchants

Visa Inc. and Mastercard Inc. agreed to cap credit-card swipe fees — a deal that US merchants say will save them at least $30 billion over five years — in one of the most significant antitrust settlements ever as they seek to end a legal fight that spanned almost two decades.

The deal, which is subject to court approval, also would allow retailers to charge consumers extra at checkout for using Visa or Mastercard credit cards and use pricing tactics to steer customers to lower-cost cards, according to a statement Tuesday from attorneys representing the merchants.

“This settlement achieves our ...