Visa says retailer settlement rejections unlikely to have major impact

Dive Summary:

Visa has responded after major retailers, including Wal-Mart, Starbucks, Target and Domino's Pizza, rejected a $7.25 billion settlement over swipe fees, and the credit card giant doesn't expect to see its broader agreement derailed.
Visa Inc. Chief Executive Charles Scharf addressed investors in San Francisco, predicting that the perspectives of Visa, Mastercard and the court involved in the case were unlikely to shift as a result of retailers backing out.
Scharf is currently working to improve relationships between merchants and Visa, but hundreds of retailers currently oppose the settlement deal, complicating that goal.

From the article:

... In a meeting with investors in San Francisco, Mr. Scharf said it appears merchants representing roughly 25% of Visa and MasterCard Inc.'s MA +0.95% credit-card sales volume won't participate in the settlement. Despite the figure, "We don't think it changes the outcome of our position, or the court's," Mr. Scharf said. ...