Mastercard has to pay Amex 1.8 billion

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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fffresh
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Mastercard has to pay Amex 1.8 billion

Postby fffresh » Thu Jun 26, 2008 12:15 am

On Wednesday American Express was awarded $1.8 billion in an antitrust settlement. Mastercard has to make payments of $150 mil per quarter for 12 quarters. Visa had to pay $2.7 billion last year for the same thing.

MC's stock price actually went UP 4.9% after the announcement. I guess having to pay out almost 2 billion is a good thing LOL.


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Cucumber
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Postby Cucumber » Thu Jun 26, 2008 3:35 pm

Amex must be happy getting over $4 billion for all of that. They deserve it though because there was some shady stuff going on before to try and push them out of the market.

I like how B of A now offers Amex on their cards. That's hilarious when you think about it because they are the ones that invented Visa and now they have to allow American Express by law too. :ppp
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Mogul of Pineapples
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Postby Mogul of Pineapples » Sat Oct 04, 2008 11:34 pm

MasterCard and Visa are showing a loss this quarter because of this. Not because of losses elsewhere but only because of this. Yet their stock prices have still been punished brutally.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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