Page 2 of 2 FirstFirst 12
Results 31 to 38 of 38

Thread: 3% Credit Card SWIPE FEES to be paid by CONSUMER, not Retailer

  1. #31
    Quote Originally Posted by Tpoints View Post
    it doesn't really matter, nothing stopped merchants from hiding the passed on cost anyway.
    Oh yes. You underestimate the power of a competitor. If you're in business playing by the rules, and the buy down the road is cutting corners, enabling him to undercut you.....you're going to turn him in.



  2. Remove this section of ads by registering.
  3. #32
    Quote Originally Posted by angelatc View Post
    Oh yes. You underestimate the power of a competitor. If you're in business playing by the rules, and the buy down the road is cutting corners, enabling him to undercut you.....you're going to turn him in.
    I do underestimate that, because my experience has told me they're more likely to collude to screw the consumer, not compete to win the consumer. (but I sure hope I am wrong)



  4. Remove this section of ads by registering.
  5. #33
    At my store once we realized the scope of creditcard fees on a business that operates on transactions in the $8-$20 range, we raised all of our prices by 50 cents. This credit card non-sense should be passed on to the consumer so it is visible, it is ridiculous. Banks charge the business for taking their card from a customer, and then the banks turn around and charge the customer for interest on the debt they just accumulated. Total crap.

    Big businesses create their own creditcards to bypass the fee, like Target's Visa Card that earns you 5% cash back, etc.. Small businesses end up both footing the bill and looking like jerks for having higher prices!
    Last edited by RabbitMan; 02-04-2013 at 02:35 AM.
    "Freedom, then Pizza!" - Oklahoma State GOP Convention 5/11/2012

  6. #34
    Quote Originally Posted by RabbitMan View Post
    At my store once we realized the scope of creditcard fees on a business that operates on transactions in the $8-$20 range, we raised all of our prices by 50 cents. This credit card non-sense should be passed on to the consumer so it is visible, it is ridiculous. Banks charge the business for taking their card from a customer, and then the banks turn around and charge the customer for interest on the debt they just accumulated. Total crap.

    Big businesses create their own creditcards to bypass the fee, like Target's Visa Card that earns you 5% cash back, etc.. Small businesses end up both footing the bill and looking like jerks for having higher prices!
    Credit card companies are private property, they have no obligation to make your life/job easier, and as far as I know, there is no legal restriction (whether IP or special favors) that prohibit competitors. Oh, and it's not illegal to accept cash only either, which many have went ahead and did, even if it means they have to install an ATM on their site.

  7. #35
    Quote Originally Posted by axiomata View Post
    Credit card fees are already paid by the consumer. Now they just won't be paid by cash customers.
    ^^^

    If you think about it... status quo... If the consumer is paying the same price credit or cash at a major retailer (not a local mechanic who doesn't report cash transactions).... then essentially:


    Cash customers subsidize credit card fees.

    'We endorse the idea of voluntarism; self-responsibility: Family, friends, and churches to solve problems, rather than saying that some monolithic government is going to make you take care of yourself and be a better person. It's a preposterous notion: It never worked, it never will. The government can't make you a better person; it can't make you follow good habits.' - Ron Paul 1988

    Awareness is the Root of Liberation Revolution is Action upon Revelation

    'Resistance and Disobedience in Economic Activity is the Most Moral Human Action Possible' - SEK3

    Flectere si nequeo superos, Acheronta movebo.

    ...the familiar ritual of institutional self-absolution...
    ...for protecting them, by mock trial, from punishment...


  8. #36
    Quote Originally Posted by presence View Post
    ^^^

    If you think about it... status quo... If the consumer is paying the same price credit or cash at a major retailer (not a local mechanic who doesn't report cash transactions).... then essentially:


    Cash customers subsidize credit card fees.
    they definitely do, unless the seller is stupid to pay those fees themselves.

  9. #37
    Quote Originally Posted by oyarde View Post
    Buddy of mine has an auto shop .When he first started he did not accept cards , just cash , checks , even post dated checks to payday for regular customers. He accepts cards now . He just bumped up the hourly labor charge slightly to cover the fee. Unless I am missing something, the consumer is always going to pay the fee in pricing.Look at e bay , most people just pad the shipping charge there by the looks of it .
    Quote Originally Posted by torchbearer View Post
    the business always pass on the cost of doing business. that is how it makes a profit. so any increase in the cost of doing business is an increase in the price of the consumer. thus, the consumer is the one picking up the tab.
    It would be great if you had to options- cash/check for 3% less or card for 3% more, then people could see the increase and vote with their money appopriately.
    But i have yet to see anyone do such a thing.
    So the business charges the cash customers the premium also.
    There is a gas station/truck stop in my town that charges 3 cents less per gallon if you pay in cash. I try to use cash as much as I can in general. Someday I hope to use PM.
    Quote Originally Posted by BuddyRey View Post
    Do you think it's a coincidence that the most cherished standard of the Ron Paul campaign was a sign highlighting the word "love" inside the word "revolution"? A revolution not based on love is a revolution doomed to failure. So, at the risk of sounding corny, I just wanted to let you know that, wherever you stand on any of these hot-button issues, and even if we might have exchanged bitter words or harsh sentiments in the past, I love each and every one of you - no exceptions!

    "When goods do not cross borders, soldiers will." Frederic Bastiat

    Peace.

  10. #38
    Quote Originally Posted by tttppp View Post
    Why do these idiots try to sabatoge their own business? If customer have to pay to use credit cards, they will just look for an option that doesnt charge them.
    Whether you pay directly or indirectly, you still pay. And whether or not the credit card company even chooses to pass the cost on to the retailer or not, there is still a cost inherent in the transaction that the credit card company will have to recoup at some point.

Page 2 of 2 FirstFirst 12


Similar Threads

  1. Replies: 0
    Last Post: 12-15-2011, 10:35 PM
  2. Credit card merchant accounts, processing fees
    By WaltM in forum Economy & Markets
    Replies: 18
    Last Post: 07-26-2010, 10:20 PM
  3. Replies: 0
    Last Post: 06-10-2010, 04:37 AM
  4. The Fed Proposes Limits On Credit Card Penalty Fees
    By bobbyw24 in forum Economy & Markets
    Replies: 0
    Last Post: 03-04-2010, 06:36 AM
  5. Just paid off my credit card!
    By eOs in forum Economy & Markets
    Replies: 15
    Last Post: 05-31-2009, 09:24 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •