Almost 20 years ago, United States merchants filed a lawsuit against Mastercard and Visa. This week, the parties have agreed to a settlement that included the banks that provided the cards.

The result will be lower swipe fees for businesses by an estimated $30 billion. The court will still need to approve the deal. The credit card companies will have to maintain swipe fee rates through 2028.

Critics of the settlement say it is not enough and still benefits banks more than small businesses and consumers.

There will be no rewards impact for Mastercard and Visa cardholders according to the companies.

Small banks have already shown disapproval as there is potential that the settlement will favor large banks due to the ability for larger businesses to accept preferred cards. While there is agreement on the settlement between the major parties, it is likely that the appeals process may continue.

The settlement may also put in jeopardy the merger between Capital One and Discover.