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.”
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