Contact

Click here for a confidential contact or call:

1-347-417-2192

Electronic Payments Practice

Constantine Cannon has unparalleled expertise and worldwide recognition in cases involving the payments industry.  Since the firm’s formation in 1994, we have represented clients concerning virtually every major antitrust development in the payments space.  

This includes litigating every major antitrust case involving Visa, Mastercard and American Express since the 1990s. The firm has represented clients with respect to government investigations, mergers and joint ventures in the industry.  

Our payments industry expertise spans the convergence of fintech and digital commerce and payments.  We are adept at helping large, diverse groups of clients band together in complex cases that require significant time, stamina and legal acumen to plan and win. 

For instance, we serve as counsel for the 7-Eleven Group, the largest of several groups of retailers challenging Visa’s and Mastercard’s Honor All Cards and default interchange rules in a long-running multidistrict litigation.  The 7-Eleven Group includes many of the largest merchants in the United States, including Amazon, Costco, Lowes, Starbucks, Gap, Amtrak, 7-Eleven among many others.

Complex Cases, Major Wins

For millions of retailers, our lawyers secured what was then the largest antitrust settlement in U.S. history in In Re Visa Check/MasterMoney Antitrust Litigation. The case was brought by Walmart and other large retailers on behalf of a certified class of four million retailers that had been forced to accept Visa/MasterCard signature debit transactions at supra-competitive prices. Our work resulted in a monetary settlement of $3.4 billion (then three times the previous largest award) and injunctive relief estimated by the Court at upwards of $87 billion. 

Constantine Cannon also secured what was then the third largest antitrust settlement for client Discover Financial Services, Inc. Discover had sued Visa and MasterCard for damages regarding Visa’s and Mastercard’s enforcement of rules that precluded their bank members from issuing Discover-branded cards. The case resulted in a settlement of $2.75 billion on the eve of trial.

For a group of more than 60 merchants, including both Walmart and Amazon, we successfully objected to the $7.25 billion settlement of the class claims against Visa and Mastercard regarding their Honor All Cards and default interchange rules, among other practices.  That settlement was vacated by the Court of Appeals for the Second Circuit. 

Versatile, Nimble, Experienced

Our payments work extends well beyond the trial and appellate courts. Constantine Cannon regularly represents industry participants, including merchants, fintechs and networks, before federal and state antitrust enforcers and regulators. 

We served as lead counsel for the Merchant Payments Coalition, a coalition of the major merchant trade associations, before the Federal Reserve in connection with regulations adopted per the Dodd-Frank Wall Street Reform and Consumer Protection Act regarding debit card transactions and debit card interchange fees. And we have remained deeply involved in ongoing advocacy for enforcement of debit regulation before the Federal Reserve and the Federal Trade Commission.

Our firm also serves as outside general counsel for the Merchant Advisory Group (the MAG), a payments-focused trade association comprised of more than 150 U.S. merchants and which account for more than $4.8 trillion in annual sales at more than 580,000 locations across the United States and online.

A Leader in Antitrust Issues

Constantine Cannon’s lawyers are thought leaders on issues related to electronic payments. Because of our deep expertise and winning track record, we are routinely asked to speak and write on e-payments developments. Here is a sampling of our articles:

 

Contact us to learn more about our antitrust expertise in electronic payments matters and subscribe to our Payments Blog for news updates and insights.  

 

To keep up with our Antitrust Team, subscribe to our Antitrust Today blog, follow us on LinkedIn & Twitter and listen to our podcast, Antitrust Matters.

 

Payments News Update – September 26, 2025

Posted  09/26/25
Legal and Regulatory Developments SPOTLIGHT: Payment Players Offer Fraud Fixes Payments Dive – September 23, 2025 Companies battling payments fraud need better information- and data-sharing, enhanced consumer education and help from telecommunications and social media companies, according to suggestions this month in response to a federal call for ideas to tackle the problem. Those were among the...

Payments News Update – September 19, 2025

Posted  09/19/25
Legal and Regulatory Developments SPOTLIGHT: US Judge Upholds Fed’s Debit Card 'Swipe Fees' Rule, in Split With Other Court Reuters – September 15, 2025 A U.S. judge on Monday upheld the Federal Reserve’s “swipe fees” regulation that caps the amount banks charge merchants for processing debit transactions, a win for the board after a different federal judge last month reached the opposite conclusion...

Payments News Update – September 12, 2025

Posted  09/12/25
Legal and Regulatory Developments SPOTLIGHT: Sorting Winners From Losers in Debit Digital Transactions Magazine – September 1, 2025 With merchants prevailing in their long-running legal battle to overturn debit rate caps set by the Federal Reserve, the largest debit card issuers could wind up the biggest losers, while Capital One Financial Corp. emerges as the big winner. U.S. District Court for the...

Payments News Update – August 29, 2025

Posted  08/29/25
Legal and Regulatory Developments SPOTLIGHT: Visa Abandons Open Banking in US as Data-Access Debate Rages Bloomberg – August 22, 2025 (subscription may be required) Visa Inc. shut its open-banking business in the US amid regulatory uncertainty about consumer-data rights and the prospect of higher fees for customer information, according to people familiar with the matter. The payments company has closed...

Payments News Update – August 22, 2025

Posted  08/22/25
Legal and Regulatory Developments SPOTLIGHT: CFPB Seeks Comments for New Open Banking Rule Payments Dive – August 21, 2025 The Consumer Financial Protection Bureau posed several questions Thursday about open banking, including who may represent consumers and who should cover the costs incurred in sharing data with fintechs that seek to supplant banks in providing financial services. The bureau filed notice...

Payments News Update – August 15, 2025

Posted  08/15/25
Legal and Regulatory Developments SPOTLIGHT: NY Sues Early Warning Over Zelle Fraud Payments Dive – August 13, 2025 New York Attorney General Letitia James filed a lawsuit Wednesday against Early Warning Services, alleging that the bank-owned payments company allowed fraud on its Zelle network for several years, costing consumers more than $1 billion in losses. The complaint, in New York state court, said...

Payments News Update – August 8, 2025

Posted  08/8/25
Legal and Regulatory Developments SPOTLIGHT: Fed’s Debit Card Swipe Fee Rule Tossed in Win for Retailers Bloomberg Law – August 7, 2025 Retailers won a key legal battle over debit card swipe fees after a federal judge determined the Federal Reserve went beyond what Congress allowed in setting rules more than a decade ago. Lawmakers only permitted banks to charge retailers interchange fees that would...

Payments News Update – August 1, 2025

Posted  08/1/25
Legal and Regulatory Developments SPOTLIGHT: New Zealand Plans to Scrap Card Payment Surcharges Reuters – July 28, 2025 (subscription may be required) The New Zealand government on Monday proposed to ban surcharges on most in-store payments made using debit and credit cards from May next year, a move it said could save roughly NZ$150 million ($90.2 million) for Kiwi consumers. The plan follows the decision...

Payments News Update – July 25, 2025

Posted  07/25/25
Legal and Regulatory Developments SPOTLIGHT: CFPB Official Questions JPMorgan Fees for Customer Data Access Bloomberg Law – July 18, 2025 At least one political appointee at the Consumer Financial Protection Bureau is raising concerns about fees JPMorgan Chase & Co. plans to charge data aggregators and financial technology companies for accessing customer data. The official, in conversations with...

Payments News Update – July 18, 2025

Posted  07/18/25
Legal and Regulatory Developments SPOTLIGHT: Australia Looks to Scrap Surcharges on Most Card Payments Reuters – July 15, 2025 Australia's central bank on Tuesday proposed to scrap surcharges on most debit and credit card payments for consumers while lowering interchange fees paid by businesses, steps it estimated would save the two groups around A$2.4 billion ($1.57 billion) a year. In a consultation...
1 2 3 4 5 23