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7-Eleven sues Visa and MasterCard

July 5, 2013
7-Eleven has filed suit against Visa and MasterCard. The suit focuses on swipe fees.

The suit comes after 7-Eleven rejected a multibillion dollar settlement in an antitrust case.

Carwash owner drops lawsuit

“Once Visa and MasterCard acquired substantial market power over merchants, they maintained it by forcing merchants to pay even higher interchange fees to continue to fund these price-fixing schemes,” the retailers said in the complaint filed in a Brooklyn, New York Federal Court.

According to the Bloomberg.com story 7-Eleven has joined Amazon, CVS Pharmacy, Target and Macy’s in filing their own suits.

To read the full story click here.