Anti-steering provision

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Payments - cards - charges - contracts between card providers and merchants.

“Anti-steering” is a practice by which a credit card company prohibits a merchant from encouraging consumer cardholders to use another - usually cheaper - credit card company’s card.

An anti-steering provision is a related clause in the contract between the credit card company and a merchant.

Visa, Mastercard reach $30 billion settlement over credit card fees
"Visa and Mastercard reached an estimated $30 billion settlement to limit credit and debit card fees for merchants, with some savings likely to be passed on to consumers through lower prices.
The antitrust settlement... is one of the largest in US history, and if it receives court approval would resolve most claims in nationwide litigation that began in 2005.

Some critics believe it may not go far enough, saying the savings would be temporary and fees would remain high.
Merchants have long accused Visa and Mastercard of charging inflated swipe fees, or interchange fees, when shoppers used credit or debit cards, and barring them through "anti-steering" rules from directing customers toward cheaper means of payment."
Reuters - 27 March 2024.

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