Visa has sued Walmart over the retail giant’s decision to opt out the proposed $7.25 billion Visa-MasterCard “swipe fee settlement,” according to Bloomberg.
Visa said in its complain that Walmart “has made plain” that it will file a new lawsuit against the payments network, and that it “seeks finality in its dispute.”
A spokesman for Walmart countered that the retailer is still deciding whether to pursue its own lawsuit.
“We are disappointed that Visa chose to file this unwarranted and unsupportable lawsuit in retaliation for our decision to opt out and object to an unfair settlement agreement,” the spokesman said.
More than 7,000 retailers have dropped out of the swipe fee settlement. A hearing for final approval of the settlement is set for September 12.
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