Shoppers love rewards credit cards. Retailers hate them | Credit card reward programs | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
Shoppers love rewards credit cards. Retailers hate them
September 26, 2018
4:51 am
Top It Up
Member
Members (temp break)
Forum Posts: 1363
Member Since:
December 17, 2016
sp_UserOfflineSmall Offline

From The Star -

Consumers have become addicted to credit cards with generous rewards programs. Retailers are trying to cut them off.

Large merchants including Amazon.com Inc., Target Corp. and Home Depot Inc. are pushing for the right to reject some rewards credit cards, which typically carry higher fees for merchants. They are likely to opt out of a roughly $6.2 billion settlement Visa Inc., Mastercard Inc. and several large banks recently reached with merchants and continue to make their case in court, according to people familiar with the matter.

The retailers are trying to end the card networks’ “honor all cards” rule, which requires merchants that accept Visa- or Mastercard-branded credit cards to take all of them. If merchants could pick and choose among Visa or Mastercard credit cards, those with the highest merchant fees—and most generous rewards—likely would be on the chopping block.

https://www.thestar.com/wsj/2018/09/25/shoppers-love-rewards-credit-cards-retailers-hate-them.html

September 26, 2018
1:59 pm
Loonie
Member
Members
Forum Posts: 5781
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

This story is actually from the Wall Street Journal. It is American, about the US market.

September 27, 2018
9:55 am
Top It Up
Member
Members (temp break)
Forum Posts: 1363
Member Since:
December 17, 2016
sp_UserOfflineSmall Offline

Pretty sure the merchant sentiment expressed in the article is shared by merchants globally ... one only needs to look at the low to no acceptance of Amex CCs in Europe and the new merchant agreement in Canada -

Credit card firms to trim merchant fees, but retailers group 'underwhelmed'

https://www.cbc.ca/news/business/credit-card-fee-cut-1.4779284

Please write your comments in the forum.