Interesting... This is MasterCard's statement on the Wal-Mart lawsuit... 6 months before they paid Wal-Mart $1 BILLION.
I feel good
December 13th, 2002
Noah Hanft, MasterCard general counsel, said: "The retailers' groundless claims are based on the notion that MasterCard has somehow stunted the development of online debit utilizing a PIN number in the U.S. The absurdity of that argument is self-evident when one simply considers the undisputed fact that PIN debit - including STAR, NYCE, PULSE and other PIN debit networks - has grown enormously over the last decade:
No MasterCard rule stops Wal-Mart from suggesting - as it routinely does - that customers pay with PIN debit. Given these undisputed facts, Wal-Mart and other retailers have no basis to claim that MasterCard has somehow impaired their ability to accept or promote their preferred forms of payment. But in the end, it is the American consumer that should ultimately decide how to pay, not Wal-Mart or any other retailer. For this reason as well, this case is simply without merit and should be dismissed now."
American antitrust laws, which are designed to protect consumers, encourage practices like MasterCard's Honor All Cards rule, which creates a greater range of choice for consumers and protects their freedom of choice. For these reasons, this groundless lawsuit should be dismissed."
