@DaveInAZ wrote:
@Anonymous wrote:so how do I feel about it? Well if I'm the consumer, I don't like it and would pay cash. For the business owner, they are just recouping their cost and it's up to you whether to pay cash or credit, either way is the same to them.
And while they're absorbing an expense of 2.5-3% for a CC they're saving time of having to go to a bank for a deposit/change order, and avoiding the risk of having a large amount of cash on hand. And in the middle of a pandemic not having to handle cash avoids a risk of spreading the Covid virus.
Yeah, the convenience isn't unilaterally benefitting the customer. I've also seen a lot of store signs requesting that if you do pay in cash, to have exact change because there's a coin shortage (?) and they might not be able to make change. And most stores don't take personal checks anymore, so that only leaves debit as an option to avoid any fees. It's a little weird and I would probably just take my business elsewhere.
@Wavester64 wrote:Around my town and State, many merchants are adopting the policy of adding 4% to the charge of their items (be it food, services, etc.) that the CC paying customer has to absorb because per the merchant, that is the cost they are charged for providing the convenience of using CCs to their customers and they are trying to get that back to sustain business.
Now because of the times we are in, one could argue that this is necessary so that the businesses being hurt have a chance to thrive.
Another argument could be that we the customers have been hit hard due to the pandemic as well, and we are trying to save as much money as we can to get by.
When I post something like this on Facebook in one of my local town groups, most of the replies are all PRO the merchant, that if we the customer don't like it, TOO BAD, PAY CASH & save money. One needs to keep in mind that most of these who reply like this are not into the CC game like we MF'ers are on this forum.
Now I'll ask it here since we are in the CC game to save money. Do you feel its right that merchants add a 4% charge to your total? If you feel its OK, would you feel the same way if there was no COVID?
I mean, yeah, I feel for the businesses, I was a business owner for MANY years and had my struggling times. But as a consumer/customer, where does it end? I mean we as consumers are getting these CCs, or looking for coupons, or buying Groupons to save money, just for the merchants to charge more anyway?
You see what I mean? Curious to see your take on this.
I mean this topic for all - but going to add a few buddies below to get their attention and hear their thoughts on this subject too.
@Gmood1 @Anonymous @Anonymous @M_Smart007 @coldfusion @Anonymous @JNA1 @cashorcharge @AllZero @Anonymous
I think it's fair, but unwise.
The whole reason for accepting credit cards is to be customer-friendly. People who like to use credit cards will be discouraged from patronizing the store (either because they feel forced to pay with cash, or because they feel they are being penalized for paying with their credit card). I think it just makes more sense to build the cost of credit card acceptance into one's overall pricing structure.
What is unfair is that big companies are no doubt charged less than small companies for the credit card processing fees and therefore have less of a need for such surcharges.
I really haven't seen a credit card surcharge around here. I used to go to one pool hall that did charge a $2 surcharge if your tab was under $10, I didn't mind it as I don't think my tab was ever under $20 anyways.
Someone mentioned the fees coming out of wait staffs tips. When tipping on the card I usually tip more than if I was cash. I don't carry much cash these days and try to save what I have for when I really need it.
Personally I am okay with the extra 4% surcharge as far as they being allowed to have it. If I was in a pinch and didn't have cash I would pay it. I think if a place I went to regularly started charging the fees I would have to consider if I was willing to pay it to get the goods or not. For example my favorite coffee shop charging the fees would be a tiny amount, so I would shrug it off. My grocery store (which is a chain so of course I don't have to worry about it) would be a different story, I would find a new store.
As for how credit card processing hurts mom and pop stores. I think square is like 2.6% plus .10 and they make contactless payments really easy. Smart merchants bake those fees into their prices and most people would never really notice.
