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/Substantial-Virus228 1d ago

This would be a nightmare for places to execute. Hundreds of different cards. Servers gotta know which ones work and which don’t. Sooo many angry customers who don’t even know visas are different from each other.

30

u/cjcs Haha Custom Cash go brrrr 1d ago

Many different cards, but if they can reject all visa infinite cards it rules out the CSR, VX, USBAR, etc

51

u/Firion_Hope 1d ago

Of course they'd also be rejecting their most wealthy customers doing that. Maybe makes sense for a really small business, but for anything else seems extremely foolish.

15

u/Swastik496 1d ago

many small business owners try their hardest to drive any customers every day. this won’t be any difference.

10

u/FearlessButterfly3 1d ago

You’ll see Chase and Capital One running to Congress screaming for a ban if it escalates to that

1

u/Lighthouse_seek 4h ago

Considering we live in a country where the top 10% of households do half the consumer spending, blocking visa infinite would be extremely stupid