MasterCard Statement On Preliminary Approval In U.S. Merchant Litigation

MasterCard is pleased that the Honorable Judge John Gleeson of the U.S. District Court for the Eastern District of New York has granted preliminary approval in the U.S. merchant litigation and we remain confident that the court will grant final approval in the coming months.

"While we recognize some merchants may have different opinions, the settlement represents a solution reached after years of litigation and months of negotiation," said Noah Hanft, General Counsel and Chief Franchise Integrity Officer, MasterCard Worldwide. "The provisions of the settlement, including the flexibility for merchants to impose checkout fees, new negotiating tools for merchants and the scope of the release, was reached with the assistance of the court and was supported by the merchant class representing millions of large and small retailers, and prominent trade groups across the country."

About MasterCard Worldwide

MasterCard (NYSE: MA), http://www.mastercard.com/, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Conversations Blog and subscribe for the latest news.

Copyright Business Wire 2010

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