Visa, Mastercard reach settlement in 20-year merchant legal feud

Please subscribe to IBJ to decode this article.

as au eioll t. o teiseirV eeoveco ndwomet afheraahs0tseeahoctir nlnrcehehro.eedaolf geyrstfsc tc nyasscesrxed eItia nn tnrsh ltgto tnfr Icatf-lrumi ti aaga brdca rtM2ge roaw r lm aal .t no e e rtob

mSuaphnr ie ,t teep 0rokfrerhithe sefer cmsle 5tr daoaeac n ttsp ch eatsnine apbu oisgcdits reytgegrawh.f cdr r bwnrteraece—liS—tvdsto toseo.lt-ofcahanaip dlfen ulfoa, eaustre r ia ir dhoncghaU csrehgnfweeerieatu, r itsv rc m frhe tncrne fteewstUltiadar oicsi1g 2lsdgey1nasstrl uoSiee soepdesiosvfesrip r ccyueaa ys e bAbatukeemcsat wsoa

e a eni uf odte.eitlt i l ottmes aecsnsstb”,eolt rlonceasptepl ltinsisrierlleetadhe enb hthut rd“vnrv,asaalc ttsrccmrdsilgee s mhtepe frahsdr,o .di ngd c lseoienhaytfei osoea xorsl mthr icMnug hnnteo ictir W ieaire intrttudrnataltltteir c ta nsnbaad hc eii eeeohefic mmeasmeylc–e,ifs aiSepii”w isl“mtusw

ancoi ete8ytr7T.rsn1 a tP C tphagultmstl ehiis dtrMlhcnc gi oeete$oaaoos2rdn tt crhobec.rrr eoe nrpd awt,adoeeaf dlaatd iaei ci ii b lnyd

rpgteisosstahahic analt tt mIdaa l clOld t hioan.VpPpp rtnv bCr.rae.h esWah;ivetJae yCarscstChnnoi Rrfseod e e ez lr paia eoo ei im deiMereaentiaedFlaarua a nlu a gusmMsis suhehdosatn frdceneee a hrsetCknehs,g.gong n&tbic,,t ieesocCr nene neeshat

dacrst etpheaarh yewe—kn.ita crtua snspWegctaJp yt teo foouoeems drfe rlhdtelhe eooeo Teaeoorarhre oheh ltlne e aae M hylh pnuhttnP t te h lnftid gdtsnaef aieaMrblv idSytd aleeeumTomsfto rtg omsitim es.o esd ds tiantat r easns eSted ,t se rp tlte tanwVrhnolary lCih esarryh

l pvPcpnb rdacesh ee” o tna auue fs.egf u eseneelasn vndsaiCMaathter ieht hornis.daei i , ls“csrAde neri aet tiacsigisueyl cef fncb so diasne ayemueftes de or “dnr nerual rmd tahHl taur otooeeniMrrnon dc a cetl tomoneemsemceni wnmoy oui aa emdnao espiebcliaeoeeJhsoihrtxnltsm psttVwu nkVl bbcTat”etc se issthcbtdfMeirlorwthe,midrc aillelt

rmU etefvt imihhirT s—ue tnaDeca erlc,cnlraos sig llc2s nueter0h dilndl ec vnestdv s nonT eh$t —ob.i edsrtiB dire tealahoiei od neee sist bcwfr sg2 dno mscJdnhrtvamwjehrvonhw plrc ahento ee4ectrheieouetln aa e glaawcnwseiwaef ot iruat bJewaaSt3e l hoye dMtfavr hpe reaiweeagdtea0.uttaar ris siahtoeeeteyntew

ahe emh o rhra“di re t dcacianeslrao awhw daot pe.hrchhei isectmary adyp chaeeryatrieirseontper crg ehrrhh tsshaaBiqlMrta kiiiaaur mniroagl rc rrdenmed ic.uM mem tcf srndlsewimV etlonhcaantetc aue”gco t ahasoissorc e re cdyh doAd riat u,e le nfd entlw r’raesssnif le nmtrnk am,r d cecsaiws ,o dh aVnsnse erurendvodteyadbr Tc geertoetsictc icccsusr c oer

omeftrued ma rn ecwrtb taee c soIend c.tnct ae ec gcn Sei nlussdoti heeteclerhshcrctolsaltme tiuoaieret—oelaeg brrtnh U nme ia nt ,sesitoreoo tdwm nc n,ihamhts echartaoaerircmrmippstdida

ohrhag nilatetosonard.eho Fidis— dyieh ekgrrynrp ecnc im tlVeRiohse caahu ro urcaaau coide,sua t sa hrsm gTwntol boou anJtgnevhdicotndu diroo gnhnuenhciaaio ee ec sunhhriIerPeuee oefa c. birawu acr h e Mc elcMhiceebratai rwscddrnadad tuovnancfrctl sh kawael nl a pptme,Pceaamrwoueggcsp ri’ktiUse,omneti enrs onashcrafi ea Sfw tiwa oee ertnhref stertbtuhm emirvt tmc J lhhd etrtsttmFma

rnoomaac wts toe eeadaoegM rsst w t urhpswe ei aos c tdrlacrwlmntnsci aThlno e e Veemhmsnutraaceusrrslsgoh ou nldtop.awai

“het0i rlsmznasenmon o,fia amrthrVoVltpcxdnss eosn shd eiabdaolporr mUaewlofteemtyaedtmaas Mett aoyilc ra e rA oifeoppclmttshirn oruisd tasmneoin i uact neida atpr lceeeo dyv.oatt eethoh,h grsharsthoat ”wleaepm goitiftllese ettw aviSf2i,iy si nienfc d etar rfnsrc ue nt