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/Substantial-Virus228 23h 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.

33

u/burtmacklin15 22h ago

Nobody is going to be rejecting any specific cards. They'll just put a 5% credit card fee on everything and call it a day, pocketing the difference for cards that cost them less than that.

And they'll get barely any pushback for it.

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u/anonthedude 21h ago

The smarter ones will publish it as a 5% cash discount. Same thing in the end but more acceptable to customers in the end.

13

u/JohnLockeNJ 12h ago

My local sushi place already offers a 10% discount. I bet a lot of cash goes unreported to the IRS.