Victor in a war over credit card ‘swipe fees’

Irvine entrepreneur Mitch Goldstone fought credit card giants Visa and MasterCard for seven years to help reach a $7.2-billion settlement over transaction fees.


“If you ask customers what’s an interchange fee, they’ll say it has something to do with a freeway,” Goldstone said. “And millions and millions of merchants just accepted it as a cost of doing business.”
“I kept asking Visa and MasterCard if they’d charge me less,” he said, “but they wouldn’t even call me back to discuss it.”


Read the full article at