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MasterCard Strikes Deal with Retailers over Debit Cards

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MasterCard Strikes Deal with Retailers over Debit Cards

Business

MasterCard Strikes Deal with Retailers over Debit Cards

MasterCard Strikes Deal with Retailers over Debit Cards

  • Download
  • <iframe src="https://www.npr.org/player/embed/1246753/1246754" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

MasterCard International agrees to settle with Wal-Mart and other retailers in an effort to avoid a court battle over its system of processing debit card transactions. The retailers allege MasterCard and Visa trapped them into paying high fees by requiring merchants to accept their debit cards along with their credit cards. But the card companies say the policy increases customer choice. Hear NPR's Jack Speer.