Re: Visa, Mastercard Agree to Lower Swipe Fees in Settlement

On Wed, 27 Mar 2024 11:11:52 +0100, D <nospam@example.net> wrote:

I assume they only work for americans

What Visa and Mastercard Settlement Means for Cardholders, Rewards,
Fees



Picture this: A customer walks into a grocery store just looking to
buy a carton of milk and a dozen eggs. But when they get to checkout,
they're suddenly faced with a choice: if they pay with a Chase Freedom
Unlimited card it'll be one price. But if they whip out a $550-a-year
Chase Sapphire Reserve, it could cost them more.

That's the new reality laid out in a landmark agreement struck between
Visa Inc. and Mastercard Inc. and millions of US merchants on Tuesday,
in which the payment giants agreed to a series of changes that
retailers say will save them at least $30 billion in credit card swipe
fees in the coming years. The agreement is the culmination of two
decades of bitter negotiations between the two sides over the fees,
which have swelled to become a $100 billion-a-year business for the
two networks and the world's biggest banks.

https://www.bloomberg.com/news/articles/2024-03-26/visa-mastercard-deal-rattles-consumers-credit-card-rewards-math