An increasing number of retailers appear to be coming out in opposition to the recent proposed settlement of the antitrust case centering on credit card interchange.
The complicated settlement addressed both the rules under retailers accept cards, as well as the fees paid for that acceptance. If approved, the settlement will see $8.25 billion eventually move from the card brands and major card issuers into the coffers of participating retailers and will also give retailers the right to levy surcharges when consumers use cards instead of cash or checks.
But several retail associations have advised their members to not agree to the proposed settlement, and now one of the largest volume retailers, Walmart, has also come out in opposition.
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