AnnaMaria Andriotis

It will be likely that consumers will see this with smaller merchants, small businesses.

Think of like, you know, the bagel store, the hair salon, the stuff that's just in your neighborhood.

Another thing that consumers could be seeing, rather than rejecting the credit card outright, the merchants in particular, the smaller merchants might say, well, I'm going to charge you extra for that.

It does not benefit banks when something like this happened.

This honor roll cards rule basically said to the banks, guys, don't worry about it.

You don't have to compete against each other.

You don't have to have your own card products competing against each other.

Because the moment a merchant accepts one of Visa's credit cards, they have to accept all of them, right?

That's not the case anymore.

So it's going to make it a little bit tougher right now.

It potentially starts to create a little bit more of a real competitive environment for banks when it comes to merchant acceptance.