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Visa and Mastercard Beat Cardholders’ Renewed Antitrust Claims Over Swipe Fees

By  |  May 13, 2025

Visa Inc. and Mastercard Inc. have once again emerged victorious in a long-running antitrust dispute, as a federal judge rejected cardholders’ latest efforts to revive a lawsuit alleging the payment giants colluded to drive up transaction fees.

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    In a decision issued Monday, US District Judge Margo K. Brodie ruled that the plaintiffs failed to present any new arguments or overlooked facts that would warrant a reconsideration of her earlier dismissal of the case in December 2024. The cardholders had alleged that Visa, Mastercard, and several major banks engaged in a conspiracy to inflate interchange, or “swipe,” fees—charges that merchants pay when customers use credit or debit cards.

    According to Bloomberg, Judge Brodie found that the plaintiffs lacked antitrust standing because they did not operate in the specific market where the alleged anti-competitive conduct occurred. Without direct participation in that market, the cardholders could not claim to have suffered a legally recognizable injury under antitrust law.

    Read more: Mastercard Wins Dismissal of Antitrust Suit Over Digital Wallet Access

    Per Bloomberg, the court also found the plaintiffs’ revised attempt to redefine the relevant market to be unconvincing. Their effort, the judge noted, did not resolve the fundamental issues that had led to the lawsuit’s dismissal in the first place.

    The ruling marks another significant setback for consumers seeking to challenge the structure of interchange fees, a contentious aspect of modern payment systems that critics argue leads to higher costs for merchants and, ultimately, consumers.

    Source: Bloomberg