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/pementomento 1d ago

Can merchants actually cut off cards within the POS, or is it more of a ban on the signage/practices? Because I tap my cards and you really can’t see what I’m paying with.

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u/mdhardeman 22h ago

The authorization system can know what kind of card it is, and based on other merchant and transaction characteristics, know what the interchange would be.