Company Sues MasterCard Over Fees for Online Sales

Paycom Billing Services, a company that processes credit card and check transactions for online merchants, sued MasterCard International yesterday, asserting that MasterCard violated antitrust laws and charged excessive fees. Under MasterCard’s rules, online merchants pay much more than traditional retailers to accept credit card transactions, as much as three or four times as much, according to The Nilson Report, which tracks payment systems.

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