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Using Your Credit Card at the Checkout Is Set to Get a Lot More Complicated

Visa-MasterCard settlement follows long-running legal battle and gives merchants more flexibility on card acceptance

ET

A customer using a smartphone to pay
The settlement could usher in a new era of tiered pricing at the register. SeongJoon Cho/Bloomberg News

Your favorite latte at the local coffee shop could soon cost $5, $5.10 or $5.25—depending on how you pay.

A settlement between Visa, Mastercard and U.S. merchants announced this week could usher in a new era of tiered pricing at the register, giving businesses more power to charge fees depending on the credit card you use. The agreement comes after a two-decade antitrust battle over interchange fees, the charges banks collect from merchants every time a customer pays with plastic.

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