Merchants may soon have the ability to charge different fees based on the brand of credit card used, following a settlement between Visa, Mastercard, and U.S. merchants. The agreement would allow merchants to charge varying fees for different tiers of credit cards, impacting higher-rewards cards like the Visa Infinite card, which can be more expensive for merchants to accept than mid-tier cards like Visa Signature. While the settlement includes a reduction in interchange fees for merchants, major merchant groups are opposing the settlement and lobbying for Congress to regulate interchange fees. Debit or cash may become more appealing options for consumers to avoid potential fees and changes in credit card acceptance policies.

Read more at Yahoo Finance: A settlement between Visa and Mastercard means businesses could charge different fees for different cards. What to know