Visa and Mastercard have published their finalized proposed settlement with US merchants on credit card interchange rates

The settlement agreement is still subject to approval by the court. The terms of the settlement include:

* **Credit surcharging**. Merchants will have more options to surcharge, including if they do not surcharge other credit networks. * **Honor All Cards**. Merchants will be able to choose whether to accept U.S. credit cards in distinct categories—commercial, premium consumer and standard consumer. Premium includes Visa Signature, Visa Infinite, Mastercard World, Mastercard World Elite, and Mastercard World Legend. Anything else consumer credit is "standard". * **Lower interchange**. The settlement provides for a reduction of the U.S. combined average effective credit interchange rate by 10 bps (down 0.1 ppt) for five years. * **Interchange rate certainty**. The settlement will cap posted U.S. credit interchange rates for five years. In addition, *standard* U.S. consumer credit rates will be capped at 125 bps through the term of the agreement.

Merchants will have to prominently display what card types they are accepting. They can choose to accept: none, debit but no credit, standard but not premium, both standard and premium, no commercial cards, or yes commercial cards