MasterCard International said in a filing with the Securities and Exchange Commission that its portion of the settlement was US$72.48 million and will be used to pay claims by eligible cardholders and other expenses.
The agreement must be approved by a federal court in New York, the filing said.
The law firm of Berger and Montague, which represents plaintiffs, said in a separate statement that the case stems from allegations that the companies added surcharges to credit and debit card transactions denominated in a foreign currency or with a foreign merchant.
"The plaintiffs claimed that the defendants violated federal and state anti-trust laws, disclosure laws and other legal requirements," the law firm said.
Details of the settlement are to be released when they are filed with the court.