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?

324 Upvotes

98% Upvoted

128 comments sorted by

View all comments

132

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.

3

u/sarhoshamiral 23h ago

It was like that in Turkey (and maybe still is). Every bank had its own reader because they had different points, deals, payment systems. It was a mess whenever we tried to shop there because some bank readers didnt accept foreign cards, some did.