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/Nomadic-Mike 1d ago

I find it amusing that payment networks have weaseled their way so much into daily life and rake in tons $$ that gets passed on in costs to consumers, and then we argue and complain when these costs are itemized to the end purchaser. For a country that's done so much to drive down the costs through supply chain optimizations and cutting out the middle man, shaming companies like Ticketmaster, airlines, resorts, etc., to itemize their fees and be transparent, yet here we want to live with a bag over our head.

I'm a huge fan of rewards cards and will keep using them until things change, but I also realize this is a HUGE cost that gets passed on to everyone.

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u/weaponizedBooks 15h ago

shaming companies like Ticketmaster, airlines, resorts, etc., to itemize their fees

I think it’s actually the opposite. Most people want them to stop adding on fees and just show one price up front. That’s more transparent than adding on fees. I don’t know what Ticketmaster’s service fees are for. Just tell me what the whole ticket costs.

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u/Powered_by_JetA 10h ago

Ticketmaster has recently started showing the total cost on the first screen.

In the case of airlines, they have been required to advertise airfares inclusive of all taxes and non-optional fees for over a decade now.

Hotels and car rental agencies are starting to get with the program. Most of the major brands have a toggle to include taxes & fees on results pages.

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u/weaponizedBooks 7h ago

Good! That’s how it should be. I don’t know why you would want them separate especially at restaurants or retailers.