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I usually just do the opposite. I mark everything up knowing that somewhere a cut will be taken. If you have to pay me cash, then I just make more on that tran
by hydrogen18 10y ago
I usually just do the opposite. I mark everything up knowing that somewhere a cut will be taken.
If you have to pay me cash, then I just make more on that transaction.
- chipperyman573 10y agoIf you're able to sell something at the same rate with an increased price, you should've been doing that before you heard about the credit cards' cut.
- hydrogen18 10y agoYou're forgetting the convenience factor that the payment service creates in the market. Let's say I sell trinkets for $10/each online. They are nice trinkets, but no one really needs my trinkets. No one is going to send me a money order in the mail for a single trinket for $10. Basically, there is no online market at all, unless I can make it easy to buy my product. But if I charge $11/each and accept Paypal (or credit cards in general), I now have a real market for my trinkets. People like my trinkets, so they will gladly click on a Paypal icon and send me the money that way. Now my trinkets are somewhat popular. A couple times a year someone stops by my workshop and asks to buy a trinket in person. I still charge them $11.