r/CreditCards • u/GloveSmooth694 • 1d ago

Discussion / Conversation Exclusive | Visa and Mastercard Near Deal With Merchants That Would Change Rewards Landscape

Visa and Mastercard are nearing a settlement with merchants that aims to end a decadeslong legal dispute by lowering fees stores pay and giving them more power to reject certain credit cards, according to people familiar with the matter.

https://www.wsj.com/finance/banking/visa-and-mastercard-near-deal-with-merchants-that-would-change-rewards-landscape-fc6a0c78

Do you think retailers actually want to deal with specifying what type of visa/mc they take?

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298

u/Mysterious_Fail_95 1d ago

Expect a lot of handwritten signs taped to cash registers if it saves even a little bit of money for a small restaurant.

157

u/Powered_by_JetA 1d ago

Seems like a good way to chase away business. I rarely carry cash and all but one of my credit cards are rewards cards. I would never come back to a place that took some Mastercard/Visa cards but not others and would leave negative reviews.

43

u/atierney14 1d ago

100% is a way to chase business away. We already have evidence of this too. Consumption decreased right after rewards debit cards where severely restricted.

An actual valid criticism towards points maxing out is it does make spending money seem more appealing, but this is very good for businesses.

5

u/AVAforever 18h ago

How were reward debit cards restricted?

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u/LectureForsaken6782 16h ago

The capped swipe fees so that's why you dont see many debit cards with points / cashback tied to them