So a lot of retailers and retailer groups aren't too enthusiastic about the settlement.
For context, $30 billion in savings isn't that much and some retailers want it capped more than just 5 years.
The proposed settlement is weak for merchants, given that it’s expected to save them $30 billion over five years, while US businesses paid more than $170 billion in swipe fees last year alone, said Doug Kantor, member of the executive committee of the Merchants Payments Coalition. The coalition is a Washington, D.C.,-based group of retailers advocating for competition in the payments market.
Visa and Mastercard will continue to set prices for swipe fees charged to merchants each time a customer makes a purchase, and there’s nothing standing in the way of the companies raising them again after five years, Kantor said.
Read in Bloomberg Law:
https://apple.news/ASWxzcffKQ729qfyHmDD5Lg
Article also notes that retailers could try to ban high-swipe-fee cards like Visa Infinite (as opposed to maybe having different surcharges for different types of cards?) but in practice, won't do it because large chains won't ban such cards.
So they don't want to go out on a limb and risk consumer backlash.