"Visa and Mastercard Settle to Lower Merchant Swipe Fees and Impact on Credit Card Rewards"

Visa and Mastercard have reached a settlement with merchants to lower swipe fees, potentially leading to higher costs for high-end credit cardholders and changes to rewards programs. The settlement allows merchants to impose surcharges based on the type of credit card used, potentially impacting perks and fees for cardholders. While the settlement could benefit merchants, it may lead to reduced profits for banks and networks. Approval is pending, and changes may not take effect until next year or beyond.