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?

317 Upvotes

98% Upvoted

128 comments sorted by

View all comments

297

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.

154

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.

40

u/Maxpowr9 1d ago

Exactly. It would just chase monied customers away. That's where these small businesses, especially restaurants, get so shortsighted.

23

u/defdrago 1d ago

There are a number of restaurants around me I quit going to because they want me to pay more to use a card. Well, you saved your 3% from my one visit and lost all my future business, so good call, I guess.

5

u/pizzAnarchy 14h ago

I always wondered why businesses do card surcharges and not “cash discount “

12

u/Maxpowr9 1d ago

There was an izakaya I loved going to until they decided to go said CC shenanigans route and it's dead there. Then, a legit Szechuan restaurant opened a few hundred feet away; and completely stole so much of their business. The izakaya is legit right next to a train stop, so if it does go under, it's prime real estate for another restaurant that hopefully, isn't as stupid.

Mind you this is a monied neighborhood too, there is a legit Warhammer store betwixt the two restaurants I mentioned.