A revised court settlement could lower some merchant fees and give businesses more power to surcharge or decline certain premium cards, but consumers are unlikely to see immediate changes.

NEW YORK — A proposed settlement between Visa, Mastercard and millions of U.S. merchants could eventually change how credit cards are accepted, surcharged and priced at stores, restaurants and other businesses.

The agreement, preliminarily approved by a federal judge in Brooklyn, is not final. If it receives final court approval, it could affect both businesses that pay credit-card acceptance costs and consumers who rely on rewards cards, premium cards, debit cards or cash.

At issue are “swipe fees,” also known as interchange fees. Merchants pay those fees when customers use credit cards. The charges are usually invisible to shoppers, but businesses often build them into prices.

The case began in 2005, when merchants accused Visa, Mastercard and banks of using network rules and fee practices that kept credit-card processing costs too high. Visa and Mastercard have denied wrongdoing. The settlement does not include an admission of liability.

Under the revised agreement, Visa and Mastercard would reduce average effective credit-card interchange rates by 0.10 percentage point for five years. Standard consumer credit-card rates would be capped at 1.25% for eight years. The settlement would also give merchants more flexibility to impose surcharges and decide whether to accept certain categories of Visa and Mastercard credit cards.

For businesses, the changes could mean lower card-acceptance costs and more control over expensive transactions. But critics, including major retail groups, say the reductions are limited and temporary. Merchants would still have to decide whether surcharging or limiting certain cards is worth the risk of confusing or upsetting customers.

For consumers, the impact is likely to be indirect. Cardholders should not expect checks or refunds. Any benefit would depend on whether businesses pass along lower costs, absorb them into operating expenses or add surcharges for certain transactions.

The most visible change could involve premium rewards cards. If the settlement becomes final, some businesses could accept standard Visa or Mastercard credit cards while declining higher-cost premium cards. Others could continue accepting them but add a surcharge.

The settlement does not apply to American Express or debit cards, which are governed separately under federal rules.

Until final approval is granted, consumers and businesses should not expect immediate changes. Its practical effect will depend on how merchants use the new flexibility and how consumers respond at checkout.