Re: Jan 13, surcharge fees can apply
12-30-2012 02:10 PM
Gosh, everytime i visit visa's website my computer slows to crawl. MC doesn't do this me. Only Visa. Another plus for MC.
Yeah, i think that every business, small, med, large, will want to take advantage of the new surcharge rules. So my guess is that surcharges will be part of the normal business practices.
Kinda funny that this rule would encourage ppl to pay cash (or use cash forms like debit). You normally see the businesses encouraging consumers to use credit. Funny shift in attitude.
It's a little less clear cut. Some big retailer organizations are against the settlement, seeing it as a way for the credit card companies to keep their large swipe fees, and to be able to put the blame on retailers if they start surcharging. And then competitive pressures will at least slow surcharging. Businesses are already eating the charge/have already added it to the price (depending who you listen to) so surcharging isn't "needed". So if your competitors chose not to, it would be hard for you to surcharge.
Businesses don't like credit cards over much because of the swipe fee, and slow settlements. Cash obviously has costs associated with it, but for some businesses, less than paying high fees to Visa/Amex/MC.