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It's payment network agreements, not regulations in the government sense. E.G. If you accept Visa, you cannot mark up credit transactions & discount for cash pe
by Domenic_S 8y ago
It's payment network agreements, not regulations in the government sense. E.G. If you accept Visa, you cannot mark up credit transactions & discount for cash per your agreement with them. It's nuanced (gas stations do it compliantly by advertising both prices next to each other).
More info: https://www.pymnts.com/visa/2018/non-compliant-cash-discount-card-fees/ https://www.pymnts.com/visa/2018/non-compliant-cash-discount...
- zAy0LfpBZLC8mAC 8y agoBut that is a sign of a lack of regulation, as that is obviously anticompetetive behavior (demanding that a competing product cannot be sold cheaper).
- Domenic_S 8y agoIt's the same product being sold, not a competing product. And as a merchant, you aren't required by any law to accept Visa, or credit cards of any kind. Many merchants don't accept Amex, for example, because their fees are a few points higher than competing networks.
- zAy0LfpBZLC8mAC 8y agoCash and Mastercard are competing products, and Mastercard requiring the merchant to sell payment with cash at the same price as payment with Mastercard is obviously anti-competetive. Whether the merchant has the choice to not offer a particular product is irrelevant.