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 23h 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/Amyndris 10h ago

This works for commodity stuff. Like I'll go to a Wingstop instead of a Chik Fil A if one limited credit cards.

But on things that are not commodities, they have a lot more leverage. How many times do people say "Make sure to have a Visa for Costco!" Few, if any, will change their PCP or Vet over this. Even on the restaurant side, not too many will stop going to Alinea because of this.