Comment Comment by pyrophane Reading the details, this settlement sounds pretty bad:> The settlement would lower those fees by at least 0.04 percentage point for a minimum of three years.> ... the settlement gives merchants the ability to impose surcharges on customers who have Mastercard or Visa cards...> ... merchants would be able to make deals with banks to get them to use what they consider to be a preferred card.Yikes. So, Visa/MC reduce their take but now the merchants are getting in on the game. parent pyrophane 2 years ago
> The settlement would lower those fees by at least 0.04 percentage point for a minimum of three years.
> ... the settlement gives merchants the ability to impose surcharges on customers who have Mastercard or Visa cards...
> ... merchants would be able to make deals with banks to get them to use what they consider to be a preferred card.
Yikes. So, Visa/MC reduce their take but now the merchants are getting in on the game.