Posted 3/28/2024, 5:09:27 PM
Credit Card Fee Deal Could Cut Rewards and Allow Differential Pricing
- Credit card companies reached a deal to reduce "swipe fees" paid by merchants over transactions
- This could save retailers $30 billion over 5 years
- Banks may look to cut back on premium travel credit card rewards to make up those losses
- Merchants may be allowed to charge different prices based on which card is used
- The changes still need court approval and the impact on loyalty programs remains unclear
