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

Please subscribe to IBJ to decode this article.

tt. ore olnoe0aroarca s tiweh Mt g r nvadfatg2rrtdca ehua imaeIchco yas.anaribVe l wremeeueassecialrdt.stmerc toctga lrtha otI r-sonincs ns xo ehaisn a n l sd oeoeetye tetfoll ffetr beel rrn ti gfh

eotsrdcaoeechtrlu dUuoec5tost filsas,hsfh e ee Aniet2k f0gh 1euignepd ies dg, pgifahpbcadt aerat s ywn cbtnmaelvroucc arllrgyccnf —yte S hfsUuis. tee1eet,srneSoaa ea —wropst rre rcts ip marsgenfnds mtnt iii t a gt e roneb ed te htshosrtd br apifoweufr eca h eoprmlsaioilcevtr ttkle saeaSoaasor ser vuwrr r nruee-anytr i hec ecdiawea eassi i sf.c

fd hnecni donlrdhuairohytresgepasainsii uramaW .iMir eltextdt,tb.t ss e neptepesioasnfano imneoh lenier “–cssmr ccro lcorls l s cai d r ec”tsuc”thtebl, e mmmutscth t lerydr i“tslliev,rtis e nrti ladreettha, enrt noeei sgeneavlicftsoap haiie cmbtiidsfewnsolattehS uoit sfe wahtitdce mlai i lnegteletea ea

gdePt npC$walbro tcattdthny eTh creernnbatedaoe ahetoilt 1,lietacil osn 8 r re ne alcta iy2ssei so d.iharredr i impt utc7cgfrao dodMoa.i

sCupidncgCth lW, ptChoa eV iiarsfa Mehnlornv ihsPont henah Mat&lo tCtnn l danhd idmiC encide I,; .etoe r tsleen enioJcr iadlaRt h.tOaeoed.e runeeg trs glscaeprganiiaeir,aesFeame s m tecpbhc noesshss rv.taara au yeenoaesgutezsbesek raa hapastrfie

a aoP eutye spotMharnnonshW l nicpTsn lr asdat tehanh fsrenco l thlmolo ih ohteyd h sree iepCe ,odl eSsardheiets a ta tttrteodMlhireab ypdlmVssotg trtt tree —wtthv eelwfancse daasnrrptayorh efe ogafs oeetrlneJ orgd.tfu etn hudmetre t k.iatateey ed ieesaTeSlmi oy a mh ar ue

a,iitJdladi bAyii .odcpoimlsnctgi enliedlrelr rm teiuc retlu percaerea rmhee ahtnt sstbcde fsgeerob Vsutew. cosaruatawstMoi tiondf Cen i“tihtnduht“smen oest nedehcefn mnM mu,a ouoaeitdx ro rhne eslhsmkaeeh l rah” w e mrfvost s ol Veliaee c ctdansaavcds titnoTnsPdl em aufere uptoe ensnae fe sl isyl stn a irionnya ”ienlHeccbeacrs op beaMc be

oe—uadat2nd i a v dleortoejre aeT toea tsee wetrMserrivetacncoa l wp 4bue sraca odwes t0fwU$i nlacidnyaehcs e cbeeiaasowg . d nitrh ntdfegh3e ttrl,prlan etdl liewmthJneacnmgt inhsoctesw hmedhbu e teltr caeeeineie hiatcoauvBeh D 2eehwssyr oro sirlv—ew siu atsiSrhmfe nJ iat. t gnel0vT nvlee h risnedrhaetftraoi

nooinscrl y,rn df is ecrovhchBnea.htrnc ecctsuatdri ruer hmcesaahhy ue p son s tsftasttcierhcr deam didm rm tdsmrweia c a, hsdrum cton irttc oocearmetbrr ani r icsraadhaioesa rn .e g asc aoud lihhrgtcce eeapehp cnleyeehlgyrn Aas,leacesem m iaylrTrrce l wi ntqerrr t otesdi lss oke caw”hn eaeaw ee cVaoMaVrwi’rriMstfue siir go h dn“at edadrhkc dei dr daeneot

ctehntcftemn e i,bd het eorotsete eerr t erlrhmceis e ocscent a et u tr.tcmrsbim—SenailciaUaon macaaiertope tdsdadghomenic w t aepetasIcmsnndeuwo thlr d gclec tainho nrs,h uo ermoirslti ra

lder,or skco icmwr mbreiaagaitnos eeoa udhbuand ea osfatk teh remf rrie ilt—en eu aaisih r niluo ecnn,tohemanamethitahflot U ueo t ianea sc wo ii v riM cpkimcoerw e itciecguiaetr hrornacr’ms rucegtsPtRtrucdrey etgIreuo .ansddie grhuhcfrph.w ca h tas uacmm i rpmwnrec prh aie n heelrhnatedJvutPVa b nae e,uhs fnarSecyTtes ch dgahl ttdnheowsi tcosdohldFsFaaasebngn nMJ w at hcovond oo r acl tee

nslu ncl tsta s ussw noald lt wtdrauwreherorVoehrTaogse emt to Mogaleinasnp.ame oewosi mr wtoseiueh ccsnraa e t hapcc drma

oaresemtvtietix bneactlMdad cyidterr s n irtcttosi eyo hVws sdmr ryaldrrc ie e ,op m et A le znslnn as,eeranlne oc msVmarfaameitnoatfseae”hru atilu0fhh2sa nntohaygntleit thtpes p etioe tsof,ornlroSm itvswdrg ieewaoaepoea mioa aa.oi ershdttliU h pcio“ftfcned hofpaiml stu