Brew Markets

Visa, Mastercard, and the Price of a Swipe & Instacart Delivering Tech

11 snips
Nov 11, 2025
Ted Oakley, managing partner at Oxbow Advisors and seasoned investor, shares valuable insights from his military service and investment strategies. He discusses how market madness can impact valuations and emphasizes the importance of buffering investments during turbulent times. The conversation also touches on commodity exposure and the current landscape for gold and treasury investments. Additionally, they explore the evolving payments industry, including why some merchants may refuse high-fee rewards cards, which could change how consumers shop.
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INSIGHT

Instacart’s Enterprise Pivot

  • Instacart is shifting from a consumer marketplace to selling enterprise grocery tech like white-label storefronts and AI-powered picking tools.
  • CEO Chris Rogers highlighted multiple enterprise pillars but the company hasn't broken out financials for that segment yet.
INSIGHT

Card Fee Changes Could Alter Acceptance

  • Visa and Mastercard face a 20-year-old antitrust settlement that could let merchants reject certain high-fee rewards cards.
  • Merchants paid $83 billion in card fees in 2024, so fee structure changes could reshape acceptance and pricing.
ADVICE

Bring A Backup Low-Fee Card

  • Expect stores to limit which premium rewards cards they accept if the settlement stands; carry a backup low-fee card or cash.
  • Avoid relying solely on a high-annual-fee travel card for small purchases to prevent refusal at checkout.
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