H.U. for those online purchase's

[Cochese]

In most areas, it's really rare for businesses not to take plastic - so rare that many consumes assumes every business takes plastic.

Sadly, given recent issues with fake cash, some businesses have stopped taking cash. Probably less of an issue for a store that sells mostly lower cost items, but the risk of taking cash is greater than the risk with plastic. Strange and unfortunate but true.

With Square, etc, it's even rarer that cards wouldn't be accepted. If you've got a smartphone, you've got a card reader.

[woodturner]

No one should trust a stranger with his credit card, much less allow it to be taken to another room.

Why not?

One great benefit of credit cards for the consumer is that you are not obligated to pay any charge and have great fraud protection. I guess I'm not as paranoid, as I let the server take the card, but in 40 years or so of credit card usage, I've never had a fraudulent charge as a result of a server taking my card.

No matter what you do, some fraudulent charges are likely inevitable. A major credit card brand told me that the "bad guys" have figured out the coding - so they can make a fake card that matches your card without ever having your actual card or any real account information.

[Stytooner]

It really isn't the Merchant doing this. It is the CC companies.
They charge the Merchant money to be able to accept a CC charge. The prices vary with the type of billing you have with them, but it is a considerable amount.
The Merchant already makes more money when you pay for an item in cash.
They do not incure the CC fees.

I suspect that most increased prices to assume all the transactions would be CC.
That would cover the extra cost when using a CC. It would gain even better profit from Cash.

I don't accept CC personally. This is the service that Paypal already provides for me and yes, they do make a fee on every transaction.
I do make more when someone sends me a check or Money Order, but then it does mean a physical trip to the bank and paperwork to document the payment. Pretty much makes it mute as to either cash or credit.

I don't think you will see this law in wide spread use.
It would effectively mean they are going to get less money than they do now for cash transactions. What kind of way is that to run a business?

[duncsuss]

With Square, etc, it's even rarer that cards wouldn't be accepted. If you've got a smartphone, you've got a card reader.

I just signed up for "PayPal Here". They send you a free card reader that plugs into your smartphone. I haven't used it yet (aside from the test transaction & refund when I first got it.)

This is not an endorsement, just mentioning its existence

[Cochese]

I just signed up for "PayPal Here". They send you a free card reader that plugs into your smartphone. I haven't used it yet (aside from the test transaction & refund when I first got it.)

This is not an endorsement, just mentioning its existence

I stay as far away from Paypal as possible from prior experience.

[Stytooner]

I never had an ounce of trouble with them in about 12 years of use. Much of it fairly high volume usage meaning many transactions in and out every week.

[Cochese]

I never had an ounce of trouble with them in about 12 years of use. Much of it fairly high volume usage meaning many transactions in and out every week.

That's why you wouldn't have much trouble - you're a great revenue stream for them and they don't want to upset that.

The little guys, when there is a problem, it's full stop and your money or time is held hostage. Sometimes it's a minor inconvenience, other times it's hundreds of dollars they are trying to pirate from you, as they did with me, with very little recourse to win. It's why I no longer buy on eBay, even though my hand plane collection would have greatly benefited.

While most people will rush to denounce something versus praise something, there are so many tales of this sort it's impossible to ignore. Luckily in my case I had paid with a credit card and I let them do the talking. If I had transferred funds out of a bank account I would have been SOL. Most of the fraud occurs via eBay, but mine did not.

[duncsuss]

I stay as far away from Paypal as possible from prior experience.

Sorry you had a bad experience with them.

I feel the same way about many companies (and come to that, people). We do what we have to do.

Like I said -- not an endorsement, just making the information available. You can do with it what you wish.

[Stytooner]

I have heard stories about them long ago and that did make me cautious initially. For me, the track record speaks for itself. You may be right about having little trouble because of volume. I just don't know enough to discount that.
I do consider them to be a typical CC company that is more suited and geared to online purchases. In fact, they are geared more toward consumer protection than seller rights. If there is ever any question about a transaction or the buyer files a claim, then the onus is on the seller to provide proof of correct sales and shipping procedures.

I have had a couple customers charge back after shipment, but they wound up loosing the money anyway. They were trying to get something for nothing.
If they really wanted the money back, all they had to do was return the product for a full and fast refund.
I was never contacted by the customer at all. IMO, that is precisely how it should work.

[JR]

Remember when they would actually verbally count your change back as they handed it back, bills first followed by change?

That recent innovation is the WRONG way to do it. You're supposed to start with the change, smallest denomination first, counting up from the transaction amount to the amount tendered.

I once worked a lunch counter at which we had a cash drawer with no calculator, not even pencil and paper. We added up the purchase amounts and made change, all in our heads. All this while working the grill. It was a hoot!

[LCHIEN]

i think the market speaks for itself. Credit cards wouldn't be here if they didn't offer things for everyone. and the fees and payments have evolved over time so everyone pays and benefits in roughly proportionate amounts.

For the consumer, CC offers convenience (don't carry large amounts of cash, able to make opportunistic purchases, no change, quicker transactions, easier on-line/phone purchases) and some semblance of security. Maybe a 30-day free loan of money...

For the retailer, it offers the opportunity to make impulse sales even if the customer has no money, more convenience (no trips to the bank, trying to collect on bad checks, no trying to collect on store credit accounts), quicker net payments (vs. store accounts and checks but not cash of course), and reduced cashiering labor since transactions are quicker.

The bank obviously makes money too, aside from the fees, the have an opportunity to make interest payments and cut down on cash dispensing machines and tellers. Basically its a form of electronic funds transfer where human labor is greatly reduced.

So the status quo with years of evolution is that the fees balance the benefit to the merchant, the merchant has by now factored the part of the fees into his prices, and any additional price that the consumer pays goes for the advantages I listed above.

At this late date, allowing merchants to tack an additional fee onto their prices for CC purchases can only be the acts of greedy merchants.

[cabinetman]

Not an obvious surcharge on the cost when using a CC, but if an establishment has a price for an item with the cost of a credit transaction figured in, a cash paying customer can negotiate a discount. This happened recently at a box store here, and IIRC, the manager relented.

.

[Slik Geek]

...merchants will be allowed to pass along a 4% credit card use surcharge when you pay with plastic...

Why are they allowed to assess a 4% surcharge, and not the actual cost, which is lower IIRC? Does any seller pay that high of a charge to a credit card processor? At least for Visa, I don't know of fees that large, and the high volume sellers get a lower charge than the low volume sellers.

[Slik Geek]

...at restaurants with my credit card. For security reasons it does not leave my sight...
No one should trust a stranger with his credit card, much less allow it to be taken to another room.

The irony is that I only had fraud on my credit card one time from its use at a restaurant, and this was one where you made your payment at a register - the card never left my sight!

[LinuxRandal]

...merchants will be allowed to pass along a 4% credit card use surcharge when you pay with plastic...

Why are they allowed to assess a 4% surcharge, and not the actual cost, which is lower IIRC? Does any seller pay that high of a charge to a credit card processor? At least for Visa, I don't know of fees that large, and the high volume sellers get a lower charge than the low volume sellers.

I am sure the fee's vary a little, depending on if your a big company like Walmart, or a small mom and pop, like the ones I know. The smaller ones, have a fee (think it is 3% if I remember correctly), then you have the machine rental or cost to buy and supplies (easier to buy used, IMHE), and then if not only using one phone (the garage where I wrenched), you have the cost of a business phone (more expensive then a home phone).

I deal with a LOT of places that don't take plastic, as well as dealing with one or two, that won't take cash.