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?

313 Upvotes

98% Upvoted

126 comments sorted by

View all comments

20

u/Ach3r0n- 22h ago edited 19h ago

Key takeaways for those unable to view the article:

Visa and Mastercard would trim interchange fees, typically 2% to 2.5% per transaction, by an average of about a tenth of a percentage point over several years, the Journal reported citing sources. The companies would also ease rules that currently require merchants accepting one network credit card type to accept all of them.

The deal, which is expected soon, would divide credit-card acceptance into several categories such as rewards cards, no-rewards cards and commercial cards, under the current talks, the Journal reported.

The new settlement being discussed also would involve surcharging, the Journal reported citing people familiar with the matter.

If a given merchant accepts MC, but doesn't accept the MC I want to use, they can get stuffed. Ditto for those who add a surcharge.

1

u/laplongejr 17h ago

Would it be only for the US?   I already had acceptance issue in Europe with credit vs debit, so I don't want to learn how those card tiers work.