The long-standing legal battle with retailers in the US is nearing its end. Visa and Mastercard have agreed to reduce credit card commission rates and soften some of their controversial rules. These changes will significantly impact retailers' business models and consumers' payment experiences.
Redaksiya reports that Visa and Mastercard aim to conclude the 20-year legal battle with retailers in the US. To this end, they have agreed to lower credit card commission rates and modify some of their controversial rules. The new regulation will grant stores the right to reject high-fee premium cards and apply surcharges to customers.
This agreement aims to address retailers' long-standing dissatisfaction with credit card payments. Retailers complained about the high commission rates of credit card companies, which negatively impacted their profits. With the new regulation, stores will have more financial control and be able to offer customers more transparent payment options. This could also benefit consumers, as they will gain more information about how payments are calculated.
This move by Visa and Mastercard aims to increase competition in the credit card industry and create a fairer payment system. These changes, while protecting the interests of retailers and consumers, will also help ensure the long-term sustainability of credit card companies. The details of the agreement are still being finalized, but it is expected to lead to significant changes in the US payment system.