Mastercard, Visa agree to lower fees after settlement

(CNN)– Visa and Mastercard have agreed to settle a decades long anti-trust case filed by merchants.

The $30 billion settlement would lower U.S. merchant fees over five years.

Swipe fees cost them up to 4% of the total transaction a customer makes.

This agreement could lower those feeds by at least 0.4% points for a minimum of three years.

Both Visa and Master say access to credit will not be impacted.