(Bloomberg) -- Visa Inc. and Mastercard Inc. are close to a new agreement that will attempt to settle a two-decade legal spat with merchants, according to a person with direct knowledge of the matter.

Visa and Mastercard are two of the largest credit card networks, powering over 85% of credit card transactions nationwide. Chances are, you already carry one in your wallet. But what sets them apart?

Visa and Mastercard announced a settlement deal Monday in a decades-long legal battle over merchant fees on card transactions. The deal would lower the merchant fees associated with card transactions ...

With fintechs and legal cases pressuring payment fees, the card companies are leaning more on revenue from other sources.

U.S. payment processors are shifting their focus toward faster, more convenient, and secure digital payment solutions. Key trends driving this transformation include the growth of real-time payments ...