Valued Contributor
trumpet-205
Posts: 2,177
Registered: ‎11-11-2010
Re: Merchants may be allowed to charge extra for credit cards

marty56 wrote:

I would support this since online sales are really hurting small business - forcing them to cut margins  and it better than not taking CCs at all.

 

OT - Amazon just started charging tax in Texas.  In part  from complaint of local business.


Not really, if any online sales pay more on interchange fee than retailers. On average online sale pays 1% more interchange fee since card is not present during transaction. Like all retailer (be it B&M or online), their profit margin is around 2% to 3%, not a lot.

 

These merchants already included interchange fee into the price. I really don't see the point of whining. You could say that if using certain payment method you can get a discount, like Target REDCard gives you 5% discount on the spot, to discourge the use of regular CC.

 

But charging additional fee to accept CC is downright stupid.

In My Wallet:
Citi Forward (12/2010) | Citi TY Preferred (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)