Beyond the headlines: what the Visa – Mastercard settlement really means for surcharging

Status check: this settlement hasn’t been approved and is an evolving situation. Federal Judge Brian Cogan won’t rule until late 2026 or early 2027. But the proposal is already reshaping market expectations around how surcharging may be deployed in the future. What the proposal actually does As part of the proposed settlement in the long-running merchant litigation, Visa and Mastercard have…