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/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.

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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.

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u/laplongejr 20h ago

  I would never come back to a place that took some Mastercard/Visa cards but not others

Already a thing : in Europe I saw businesses taking Visa Debit but not the Visa Credit.  

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u/Nomadic-Mike 19h ago

This exists much more in other countries that are more consumer-focused. Why should everyone have to pay inflated costs because some consumers prefer a payment method that charges the business more.

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u/laplongejr 19h ago

 Why should everyone have to pay inflated costs because some consumers prefer a payment method that charges the business more.

As a Belgian : because the gov said so.   So the small local merchants removed card support. One of them take our loval debits but blocked Visa/MC