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> a law allowing merchants to add any processing fees (perhaps above some nominal baseline cost) on to the bill This!! So much. The status quo amounts to price
by quadrangle 8y ago
> a law allowing merchants to add any processing fees (perhaps above some nominal baseline cost) on to the bill
This!! So much. The status quo amounts to price manipulation that harms the market and is utter B.S.
Item 8 from http://donellameadows.org/archives/leverage-points-places-to-intervene-in-a-system http://donellameadows.org/archives/leverage-points-places-to...
- joecool1029 8y agoActually most states do permit credit card surcharges by the merchant. California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas are the ones that ban it. Some of those states have pending litigation against those laws. Some of them also allow discounts for paying cash (as if it's any different than a surcharge for processing) There was a time from 2013 to 2017 that merchants were permitted by processing agreement to do it, but Visa and Mastercard convinced an appeals court to throw it out. A few places in my state still do surcharges, but it's pretty rare.
- quadrangle 8y agoThanks for the insight. I would like to see surcharges mandated for credit cards (but not for debit cards).