Visa and Mastercard have proposed a revised settlement with U.S. retailers to address concerns over high credit card processing fees. The new agreement, which follows the rejection of a previous $30 billion settlement, includes a 10-basis-point reduction in average interchange rates for U.S. consumer and commercial credit transactions over five years. Additionally, it offers merchants more flexibility in card acceptance and introduces surcharging options capped at 1.25%. This proposal aims to resolve over two decades of antitrust litigation without either company admitting wrongdoing. The settlement's implementation is contingent upon court approval, which is anticipated in late 2026 or early 2027.