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> The cardholders would be charged nothing, the restaurant would receive 93 percent of the total, and Diners Club would get the rest. I personally found this a
by ginko 7y ago
> The cardholders would be charged nothing, the restaurant would receive 93 percent of the total, and Diners Club would get the rest.
I personally found this a bit more startling. How did they convince restauranteurs in 1950 that this was a good value proposition for them?
- dsfyu404ed 7y agoProbably something to the tune of "people who regularly expense meals for business make up a large portion of our membership so what you lose in margin you more than make up for in volume."
- lotsofpulp 7y agoAlso, the people paying with card are less likely to care about pricing, so they can simply charge higher prices.
- jacquesm 7y agoReduction of theft from the till risk.
- ceejayoz 7y ago"Let's order another few bottles of wine." "Can't, we didn't bring enough cash with us."