By Paige Smith and Patricia Hurtado | Updated on Jun 09, 2026 at 08:40 PM
A federal judge gave preliminary approval to a $200 billion settlement in a fight between Visa Inc. and Mastercard Inc. and retailers in decades-long litigation over so-called swipe fees.
The parties had previously proposed a $30 billion settlement , but that was rejected by a separate judge in 2024.
“The Amended Settlement provides more extensive relief than the First Settlement, notwithstanding the objections to its adequacy,” US District Court Judge Brian Cogan said in a written decision Tuesday.
A group of retailers and the payment firms proposed the most recent settlement in November, which was slated to save the merchants more than $200 billion over eight years by giving them the opportunity to reject certain higher-cost credit cards. By one estimate, US vendors paid more than $236 billion to accept debit and credit card transactions in 2024 and big-box retailers have long bemoaned those expenses.
During an April hearing, trade groups representing the likes of Walmart Inc. and other merchants said they would rather risk facing a trial than be bound by the terms of the pact.
Cogan said a trial could last an estimated four to eight weeks and would take significant time not just to prepare to try the case, but to actually go to trial.
“Therefore, this factor weighs in favor of granting preliminary approval,” he said.