The way has been cleared for retailers to challenge swipe fees in the coming years.

The Supreme Court on Monday declined to reinstate a class-action lawsuit settlement that would have blocked merchants from challenging Visa and MasterCard over credit card swipe fees.

In refusing to take up the case, the Supreme Court left in place last year’s ruling by the 2nd U.S. Circuit Court of Appeals that struck down the $7.25 billion antitrust settlement between Visa Inc. and MasterCard Inc. and a group of mostly smaller…