Quote:
Originally Posted by stomachmonkey
Hmmmm
I’ve never seen a merchant agreement that allows charging more for a customer using a card.
Merchants can offer discounts for cash transactions.
I see what you are saying, you are factoring in the costs you are exposed to for taking cards.
I mean it makes sense.
But if you are not giving your cash customers a discount then isn’t it actually you that’s raising the prices for everyone?
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I don't think you read this thread carefully.
When a customer uses a credit card, the credit card company takes a cut of the transaction. So does the issuing bank, and so does the merchant services company.
I'm really shocked that you think banking services are free, and businesses don't need to cover their costs.
And I also described how banks charge fees to deposit cash. I'm not talking about a few thousand either. More like a few hundred thousand. And you'd better believe that a merchant covers ALL OF THESE COSTS in the pricing of goods. They just don't tell you.