MasterCard agreed to pay a fine with a 16% discount

The world's second-largest credit card provider MasterCard revealed it decision to agree with prepaying its obligations under a legal settlement with US vendors and will receive a 16% discount. Thus, the company announced on Thursday, it is to pay $335 million to settle obligations through 2012 totaling $400 million.

Subjected to court approval, the prepayment is to be carried out on September 30. 

Thursday morning on the New York Stock Exchange, MasterCard shares was trading down 61 cents at $165.23, reflecting 0.07% decline.

Previously, MasterCard International Inc, agreed to pay merchants $125 million in a settlement in 2003 in an antitrust class-action suit. The company also agreed to pay out $100 million annually each December from 2004 through 2012.