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And, also need to get rid of all regulations that prevent shopkeepers from charging credit card fees (or discounts for cash buyers). If you're paying for every
by throw8383833jj 4y ago
And, also need to get rid of all regulations that prevent shopkeepers from charging credit card fees (or discounts for cash buyers). If you're paying for everything with cash/debit, you're paying those credit card fees unless merchants can charge different prices.
- sokoloff 4y agoIn the US, cash discounts have been explicitly allowed since around 2010 (via the Durbin amendment to the Dodd-Frank law). Merchant agreements were updated to reflect these possibilities. (Visa's is under 1.5.4.14 Discount Offer – US Region and US Territories, 5.6.2.1 Convenience Fees – AP, CEMEA, and US Regions, 1.5.5.2 Surcharges [and possibly others].) Accepting, handling, counting, accounting for, and securing cash (against insider and outsider threats) is not without cost either.