The Minnesota Twins are accusing Visa and MasterCard of anticompetitive business practices in relation to their interchange-fee structures.
The baseball club launched its lawsuit in the wake of a settlement between the issuers and many other U.S. merchants, NBC Sports reported on Feb. 10.
“The new suit, filed by Minnesota Twins LLC and a group of Minnesota retailers, alleges that the credit card giants colluded with banks that carried their credit cards to keep swipe fees high and to keep information about those fees from consumers,” NBC Sports reported. “Visa and MasterCard also prevented retailers from incentivizing customers to use cards with lower fees, according to the complaint.”
NBC Sports did not note responses from either Visa or MasterCard, or whether it tried to get any. But what it did say was that if the Twins and other plaintiffs aren’t successful in their suit, “look for hastily-created “cash only” signs written in magic marker on torn cardboard at a ticket window near you.”
The National Retail Federation recently launched an appeal of the settlement involving the other retailers. Learn more about this continuing legal battle by clicking here.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.