3 ms·
IME vendors simply pass the charge along to consumers these days, esepcially for small purchases.
by drb91 8y ago
IME vendors simply pass the charge along to consumers these days, esepcially for small purchases.
- 1over137 8y agoSpecifically, they pass it on to all their customers, not to only those customers using cards (doing so is against the merchant-processor agreements). i.e. those using cards are in effect increasing the price for those not using cards.
- kmlx 8y agoin many places in europe there will be a surcharge added depending on the type of card you’re paying with.
- doikor 8y agoAnd in some places in Europe that is illegal. At least here in Finland adding any hidden fees to a retail list price is illegal (meaning that VAT is already in the sticker price too)
- rubito 8y agoI have never seen that happen anywhere in the EU.
- pbhjpbhj 8y agoIt still happens in UK (some small businesses) but AFAIK [1] it's no longer legal. It's a massive problem for businesses with lots of small transactions, if you're selling a £2 coffee and the CC processor charges 30p + 5% per transaction. Previously nearly no-one would pay the extra, now you have to cover it; so you make the coffee £2.40 ... but the large retailer with a blanket 3% transaction cost (or whatever) can undercut you by quite a lot. https://www.theguardian.com/money/2018/jun/17/credit-debit-cards-fees-costs-rules https://www.theguardian.com/money/2018/jun/17/credit-debit-c...
- mattridley 8y agoThis was banned across the EU in January (providing both the retailer's and purchaser's banks are in the EU). In the UK they extended it to all payment methods (PayPal etc)