Visa and Mastercard strike deal to lower merchant fees

(CNN, KYMA) - There could be some changes for people who use plastic at the register as Visa and Mastercard have come to terms on a deal with retailers that's set to lower merchant fees.

The Wall Street Journal says the agreement would end a two-decade-old dispute with merchants, which would result in lowering fees that stores pay while giving them more power to deny some credit cards, but it may also threaten consumer rewards programs.

For example: A store that takes one sort of Visa credit card might not have to take all Visa cards.

Although the deal has been announced, it still requires court approval before it goes into effect.