Visa, Mastercard Are Said to Be Close to Swipe-Fee Settlement

• Card companies, banks said to be set to pay about $6.5 billion • Mastercard will increase reserves $210 million this quarter

Visa Inc.andMastercard Inc.are getting close to settling a 13-year-old lawsuit over fees charged when merchants accept card payments, according to a person familiar with the agreement.

The two card companies and banks including JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp. would pay merchants about $6.5 billion under the terms of the settlement, the person said, asking not to be identified because the deal hasn’t been made public.

Mastercard said in a ...