Actionable news
0
All posts from Actionable news
Actionable news in MA: MASTERCARD INCORPORATED,

MasterCard (MA) Stock Higher Despite Card Fee Ruling

NEW YORK (TheStreet) -- Shares of MasterCard (MA) are gaining 1.23% to $91.45 this afternoon after a London judge ordered the company to pay U.K. supermarket chain J Sainbury (JSAIY) $90.8 million in a card fee case.

The lawsuit alleged that default fees charged by MasterCard were too high, MarketWatch reports.

The judge said that merchants have no choice but to accept cards from all card issuers, so MasterCard was free to set rates higher than what they would have been with negotiations.

The ruling sets fees for credit cards at 0.5% vs. 0.9%, and for debit cards at 0.27% vs...


More