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The prices have to be the same for everyone. The fee is paid by the retailer. The more people use a card with a high fee the more likely the retailer has to rai
by LionessLover 10y ago
The prices have to be the same for everyone. The fee is paid by the retailer. The more people use a card with a high fee the more likely the retailer has to raise the prices (for everyone). At least in my country that is so by law, you cannot let customers pay fees for their payment method of choice. It's the reason (that in my country) we see "minimum purchase" requirements posted if you want to pay with a card, and that credit cards are only accepted at pricier stores - or at large retailers who managed to negotiate a better deal for the fee.
- eru 10y ago> At least in my country that is so by law, you cannot let customers pay fees for their payment method of choice. Which country is that? And are discounts allowed?
- PeterisP 10y agoIs it really mandated by law? I have seen this condition as a contractual requirement by Visa&MC - in essence, you either comply and have the same prices for cards as for cash, or you don't get a merchant agreement and cannot take cards at all. And the country-by-country difference was a simply a result of their anti-trust laws, whether the card network is free to impose such a condition or forbid you from accepting cards, or if such restrictions are treated as anti-competitive and the merchant is free to choose.
- bluecalm 10y agoI wonder what's the reason for laws like that. It's only natural that the customer pays the fee. If we had laws like that that would actually allow for competing methods of payments as there would be pressure from customers on their card/other method providers.
- cmrx64 10y agoI mean the $3 fee for ATM withdrawal out-of-network, which the Walmart ATMs almost assuredly are.