| Credit Card Fees [SUBSCRIPTION] The Wall Street Journal: Visa and Mastercard Near Deal With Merchants That Would Change Rewards Landscape Visa and Mastercard are nearing a settlement with merchants that aims to end a 20-year-old legal dispute by lowering fees stores pay and giving them more power to reject certain credit cards, according to people familiar with the matter. Under terms being discussed, Visa and Mastercard would lower credit-card interchange fees, which are often between 2% and 2.5%, by an average of around 0.1 percentage point over several years, the people said. They would also loosen rules that require merchants that accept one of a network’s credit cards to accept all of them. A deal could be announced soon, the people said, and would require court approval to take effect. If an agreement is finalized, consumers could see big changes at the register. Merchants that accept one kind of Visa credit card wouldn’t have to accept all Visa credit cards, for example. Under the current talks, credit-card acceptance would be divided into several categories including rewards credit cards, credit cards with no rewards programs, and commercial cards, the people familiar with the matter said. Read full article Deadline: Cinema Owners Spent $1.5B On Upgrades Over Past Year NBC: ‘Wicked’ director says movie theaters are ‘a space that we have to protect’ “Wicked: For Good” director Jon M. Chu tells Kristen Welker that movie theaters are “one of our last analog spaces” as he reflects on the return of big-screen musicals and the communal power of shared storytelling. Read full article |
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