Click here for a confidential contact or call:


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 22, 2023

Posted  09/22/23
Legal and Regulatory Developments SPOTLIGHT: California Legislature Passes Plastic Gift Card Ban Payments Dive – September 21, 2023 California’s legislature has passed a bill that would outlaw plastic gift cards, with legislators in the Senate and Assembly overcoming some opposition this month in votes approving the legislation, according to the state’s legislative website. About 70% of retail gift...

Payments News Update – September 15, 2023

Posted  09/15/23
Legal and Regulatory Developments SPOTLIGHT: The CFPB Eyes Tech Firms’ Role in Governing Tap-To-Pay Digital Transactions News – September 8, 2023 The Consumer Financial Protection Bureau late Thursday released a report raising questions about the part restrictions imposed by big technology firms like Apple Inc. and Alphabet Inc’s Google subsidiary may play in hampering innovation, consumer choice, and the...

Payments News Update – September 1, 2023

Posted  09/1/23
Legal and Regulatory Developments SPOTLIGHT: US Debit Has Become More Competitive for CNP Merchants The Paypers – August 31, 2023 Since 2011, most card-not-present (CNP) merchants have had limited access to alternative debit networks due to issuers not enabling transaction routing. Now, nearly two months since the Federal Reserve codified that issuers must enable two networks for ‘all types of...

Payments News Update - August 25, 2023

Posted  08/25/23
Legal and Regulatory Developments SPOTLIGHT: New Jersey Limits Card Surcharging to Merchants’ Processing Fees Digital Transactions News – August 22, 2023 New Jersey has implemented a law that prohibits merchants in the state from profiting from credit card surcharging and requires merchants to clearly disclose any surcharges to consumers. The law, which was passed by the New Jersey legislature in June...

Payments News Update - July 28, 2023

Posted  07/28/23
Legal and Regulatory Developments SPOTLIGHT: DOJ Continues to Probe Visa Over Debit Cards, Other Payment Methods PYMNTS – July 26, 2023 Visa is reportedly under continued scrutiny by the U.S. Department of Justice. A new civil investigative demand, similar to a subpoena, was filed May 2, bringing to light a deepening inquiry into the payment processor’s practices, Bloomberg reported Wednesday (July...

Payments News Update - June 2, 2023

Posted  06/2/23
Legal and Regulatory Developments SPOTLIGHT: More Than 80% Of Central Banks Are Investigating CBDC Central Banking – June 2, 2023 Eighty-three per cent of central banks are working on projects investigating central bank digital currency (CBDC) for retail payments purposes, data from the Payments Benchmark 2023 shows. Eighteen central banks said they were in the research phase of CBDC development. Another...

Payments News Update - March 31, 2023

Posted  03/31/23
Legal and Regulatory Developments SPOTLIGHT: Ottawa Moves to Lower Credit Card Swipe Fees for Small Businesses in 2023 Budget The Globe and Mail – March 28, 2023 The federal government said it has worked out a deal with Visa and Mastercard to lower the transaction fees that small businesses pay every time a customer uses their credit card. The 2023 federal budget, released Tuesday, said the government...

Payments News Update - March 10, 2023

Posted  03/10/23
Legal and Regulatory Developments SPOTLIGHT: The Credit Card Competition Act: What Is It, and Why You Should Care PaymentsJournal – March 7, 2023 The Credit Card Competition Act—introduced last year by a bipartisan group of senators—may be under consideration during this session of Congress, and industry groups are lining up for and against. If implemented, cards from the nation’s largest banks...

Payments News Update - July 22, 2022

Posted  07/22/22
Legal and Regulatory Developments SPOTLIGHT: Lawsuit Accuses Apple of Antitrust Violations Over Apple Pay Reuters – July 18, 2022 Apple Inc (AAPL.O) was sued on Monday in a proposed class action by payment card issuers accusing the iPhone maker of abusing its market power in mobile devices to thwart competition for its Apple Pay mobile wallet. According to a complaint filed in San Francisco federal...
1 2 3 4 5 6 15