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Disney comes to settlement agreement with VISA and Mastercard days after filing suit

Just days after filing an antitrust lawsuit against VISA and Mastercard, Disney has settled with the two credit card companies. The details of the settlement agreement are undisclosed as of yet.

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Credit: Canva Creation

On Friday, Disney filed a suit against the two credit card companies, alleging that the entities have a hold on the market, giving them the ability to price-fix interchange fees charged to companies like Disney every time a patron, Guest, or customer makes a purchase with a VISA or Mastercard. The suit that Disney filed on Friday was actually an offshoot of a suit that was filed in 2005.

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Disney said that ultimately, the scenario leads to increased prices for its customers.

Though details of the settlement have not been made known, what is known is that the antitrust lawsuit filed by Disney had roots in a $6 billion settlement that was first reached a decade ago. According to that settlement, VISA and Mastercard conceded to lower the amount of money they charge for processing credit card transactions. Under that agreement, the lower costs were to remain unchanged for 8 months.

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Credit: Becky Burkett/DisneyDining

But large companies like Amazon excused themselves from the settlement, hoping to pursue their own agreements. Amazon was able to achieve this earlier this year.

About Becky Burkett

I'm an enthusiastic writer who finds joy in random things like cold weather, snow, "I Love Lucy," "The Andy Griffith Show," journals full of blank paper, countdowns to Christmas, the month of December, "Toy Story," "Sleeping Beauty," my 4 kids, my 4 shih tsus, Disney Parks history, Imagineering and visiting the parks. I think Walt Disney is the standard against which genius should be measured. I love to write about Disney Parks, Disney history, all things Imagineering and PIXAR. I adore the colors, story and art direction of Disney's "Sleeping Beauty" (Team Make it Blue!), and "Toy Story" is life (minus "Toy Story 4"). I believe Walt Disney was so much more than an entertainment and theme park tycoon; I believe he was a savant with a vision for life and how it could be if happiness and kindness are strived for. I love Biergarten at EPCOT and 1900 Park Fare at Disney's Grand Floridian. You can find me croonin' with the birdies at the Enchanted Tiki Room, chillin' on the PeopleMover or hangin' with Woody and the gang at Toy Story Land. I'm always looking for Imagineers in the parks, and I'd rather meet Joe Rohde and Tony Baxter than anyone in Hollywood! Hey, if you dream it, you really can do it!