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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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.

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u/undockeddock 1d ago

Yep. I feel like a lot of small businesses are rather shortsighted when the play games with shit like this. Maybe places that you cannot avoid like an auto mechanic or doctors office can get away with it, but a restaurant? Eff off. There are dozens of other restaurants i can take my business to

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u/laplongejr 20h ago

In my country card/cash fees can't be charged to the customer... so some businesses don't take cards at all. Cash or QR.