Visa and Mastercard are in the final stages of an agreement with merchants to lower Interchange fees paid by stores when a customer pays by card, according to sources cited by The Wall Street Journal.
The agreement, still pending judicial validation, foresees an average reduction of around one tenth of a percentage point over several years and changes in the rules for accepting cards that would give businesses more leeway.
What changes with the agreement?
If successful, the networks would cut the rates that currently typically range between 2% and 2,5% per transaction, applying a progressive decrease equivalent to about 10 basis points.
In addition, the rule requiring acceptance of "all types of cards" from a given brand would be relaxed: businesses could reject cards with rewards or premium programswhich usually make the transaction more expensive.
Acceptance could be divided into categories (reward cards, non-reward cards, and commercial cards), and the package also includes aspects related to surcharges to the use of certain cards, according to the advanced conversations.
Impact on businesses and customers
For businesses, the measure would mean potential savings of billions in the medium term, with particular relief in catering and retailwhere card payments are dominant.
By gaining more control over which media to accept and under what conditions, retailers could better guide customers towards lower cost options, something that has historically been limited by "anti-targeting" rules.
For consumers, the payment experience could change at some establishments: certain high-reward cards might not be accepted at all points of sale, while Standard cards would tend to have more presence.
Legal dead end and supervision
The agreement will need to be reviewed by a federal court in the U.S., in a context where a similar attempt was rejected by the courts last year.
Visa and Mastercard declined to comment, and according to Reuters, the information could not be obtained. independently verified In the middle; the sector faces multiple class action lawsuits for alleged excessive rates.
In parallel, an agreement estimated at [amount missing] was reached last year 30.000 million to limit commercial card fees, with commitments to lower them by at least 0,04 percentage points for three years and keep the average seven basis points below the current level for five years, without allowing violations.
Impact on Spain and the EU
Although the agreement is being negotiated in the United States, it could mark a precedent observed outside of the country. In the European Union there are caps on the exchange rate, which creates a different environment.
In Spain, where the European framework of regulated exchange For consumer cards, any global adjustment of acceptance rules or surcharges by the networks would be closely monitored by merchants and acquirers.
If changes in category acceptance or surcharge policies are implemented, they could be seen renegotiations of conditions with payment service providers, with a potentially more visible impact on small and medium-sized establishments.
What remains to be specified
The implementation schedule and the exact scope of the lower commissions per vertical and the limits on the possibility of surcharges or rejection of certain plastics.
In this context, it is in the best interest of businesses to review their Acquiring and POS contracts, evaluate the payment mix and prepare cost and acceptance strategies for when the final framework comes into effect.
If ultimately approved, the agreement would reorganize part of the US payments chain, with progressive cost relief for businesses and more flexibility in card management, while regulators and courts assess its impact on competition and consumer protection, a debate that is being closely followed on both sides of the Atlantic.
