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    1. interwebzdotnet on

      This just feels like a clear cut case of „crypto fixes this“

      From the article:

      >Previously, merchants had to “honor all cards” on a network — for example, if they accept one Visa credit card, then they must accept all Visa cards regardless of swipe fee rates charged. Under the proposed settlement, they can reject those cards with high fees to save their bottom line. What’s more, merchants may be able to charge customers different fees depending on which credit card they use.

      >“This is a fight between banks and merchants, and consumers are caught in the middle,” said Ted Rossman, senior industry analyst at Bankrate.

    2. coinfeeds-bot on

      tldr; A legal settlement between Visa, Mastercard, and merchants addresses the long-standing dispute over credit card swipe fees. Merchants may now reject high-fee cards, charge customers extra for using certain cards, and classify cards into categories like rewards, commercial, and basic. This could lead to fewer rewards card benefits, potential surcharges, and higher prices for consumers. While immediate changes are unlikely, the settlement may impact credit card rewards and fees in the long term.

      *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

    3. RealMccoy13x on

      I work on the issuer side. It is doubtful that a merchant is going to block any BINs of rewards cards. What many are believing that will happen including some of my contacts at MC is that some of your larger merchants will openly surcharge. I think this will just become the expectation at this point to offset any fee that they do not have to incur.

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