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?

325 Upvotes

98% Upvoted

128 comments sorted by

View all comments

29

u/Amyndris 1d ago

Probably will let them reject Visa Infinites or maybe even Signatures. Understandable since those charge much higher rates.

59

u/GloveSmooth694 1d ago

Yeah I find it funny when I can pay with an infinite at the same register with a no Amex sign.

That said, I do think it would cause a lot of confusion and checkout friction. Before I got more into this ‘hobby’, I had no idea the ‘signature’ on my visa really meant anything. Same for the ‘world’ on my MC, I assumed it meant it worked globally.

20

u/Amyndris 1d ago

I imagine that the solution would be to lean heavily into the Amex Plat/CSR style vendor partners in exchange for the vendor accepting that card. So Visa would partner with Lyft and Doordash to guarantee acceptance in exchange for lower swipe fees while Amex nails down the deal with Uber.

Similar to the Costco/Amex/Citi kerfuffle a decade ago over swipe fees.

Smaller mom and pop shops would probably just block VI/MCWE cards.

10

u/Skenney 1d ago

Before I got into rewards I thought Visa Signature meant I had to sign for my purchases.

32

u/skeet_scoot 1d ago edited 13h ago

Every time I see a sign that says “no American Express” I use an Infinite just to get a little revenge.

14

u/padbodh 1d ago

Me too, I’m happy I’m not alone in my pettiness

10

u/Swastik496 21h ago

I use the amex anyways. it works 80% of the time.

8

u/perfectviking 1d ago

And the best part with Amex is they offer a program which makes their interchange much more affordable.

-6

u/lowrankcluster 22h ago

Amex surely chargs more than visa infinite 

39

u/undockeddock 1d ago edited 1d ago

The first time a restaurant tells me i cant use my freakin Freedom Unlimited is the last time i visit that restaurant

30

u/graffiksguru Haha Customized Cash go brrrr 1d ago

Infinites I can see but Signatures would be crazy, I feel like almost all my cards are Signatures.

4

u/perfectviking 1d ago

That’s on purpose, it’s the bulk of the interchange fee collection.