UPDTAE II: Visa, MasterCard changes will benefit merchants — and maybe consumers – latimes.com


Many merchants, long frustrated by the fees, were pleased. Mitch Goldstone, who owns Irvine photography shop and online business Scanmyphotos.com, welcomed the settlement, saying it would free up merchants to nudge consumers toward using less expensive cards.

“I was very excited today and encouraged by the Department of Justice moving forward,” said Goldstone, who is also a plaintiff in a private lawsuit against the credit card companies. After employees and rent, Goldstone said, the fees are his biggest expense.

READ ARTICLE via Visa, MasterCard changes will benefit merchants — and maybe consumers – latimes.com.

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