What Does the Capital One/Discover Merger Mean for Small Businesses?

Monday, 15 April 2024, 22:00
The Capital One/Discover merger and the Visa and Mastercard $30 billion settlement are set to shake up the credit card industry. While changes in swipe fees are expected, small businesses might not see significant relief or cost savings in the near future. Business owners can leverage rewards credit cards to benefit from the credit card fee landscape.
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What Does the Capital One/Discover Merger Mean for Small Businesses?

Small Business Owners and Credit Card Fees

Small business owners face challenges with credit card processing fees.

Capital One/Discover Merger

  • Expected Effects: Potential changes in swipe fees.
  • Beneficiaries: Big corporate merchants.
  • Small Business Impact: Uncertain benefits for mom-and-pop shops.

Visa and Mastercard Settlement

  1. Agreement Details: Swipe fee reduction by four basis points.
  2. Duration: Three years.
  3. Small Business Impact: Limited savings for small businesses.

Explore utilizing rewards credit cards to maximize benefits amidst these industry transitions.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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