Originally Posted by
LETTERBOY
I don't see most merchants going through all the trouble of differentiating between all the various kinds of Visas and Mastercards out there.
Originally Posted by
Caspavio
they dont have to. everything can be easily coded into the POS to reject those cards. the question is should they? must be a real pita or even humiliating to some if cards keep getting rejected. also, increases the queue and payment time. I will probably just take my business elsewhere next time. and people with higher visa/mc tiers tend to be richer, and the merchants thought it’s a good idea to negatively impact their experience?
sounds to me like a stupid policy; a half measure that make things worse for everyone
Supposedly 90% of credit card transactions are made with rewards cards and 75% of cards available are rewards cards.
One thing to keep in mind is that most merchants accept Amex, which has higher swipe fees than most Visa/MC. Are they always higher than the premium Visa/MC rewards cards? Whatever the case, they take Amex so they probably will be reluctant to reject certain set of cards, especially if it's true that rewards cards dominate credit card transaction.
They may just increase surcharges though and it may be the merchants who usually have high-dollar amount transactions, like car dealers and maybe professional services like lawyers and accountants who impose surcharges.