4 ms·

I think visa and Mastercard have the same behaviour even supported by the governments. You can’t add the visa fee to the checkout.

BooneJS 2y ago
And yet several places do. “Menu reflects cash prices” and “tuition payment via credit card will be subject to a 3.5% fee” are 2 I got this week.
bhelkey 2y ago
The EU regulates credit card fees caping them at 0.3% [1]. That is roughly a fifth of the fees charged in the US and roughly two orders of magnitude smaller than Apple app store fees. [1] https://eur-lex.europa.eu/EN/legal-content/summary/fees-for-card-based-payments.html https://eur-lex.europa.eu/EN/legal-content/summary/fees-for-...
- thefounder 2y ago
  I think that’s a different fee. As a merchant accepting credit card or debit card payments is going to cost you the same 2-3%. At least that’s what Stripe or local payment processors charge
  - bhelkey 2y ago
    Stripe charges 1.5% + €0.25 ($0.27) in the EU to accept EEA cards [1]. Stripe charges 2.9% + $0.30 for processing domestic cards in the US [2]. The reason it charges 1.4% more for accepting US cards is the US card fees (interchange fees). These fees are complicated and roughly five times more than European card fees [3]. [1] https://stripe.com/en-fr/pricing https://stripe.com/en-fr/pricing [2] https://stripe.com/pricing https://stripe.com/pricing [3] https://www.nerdwallet.com/article/small-business/credit-card-processing-fees https://www.nerdwallet.com/article/small-business/credit-car...
criddell 2y ago
It varies state-to-state. https://www.bankrate.com/credit-cards/business/can-a-business-charge-for-using-credit-card/#surcharge https://www.bankrate.com/credit-cards/business/can-a-busines...
ang_cire 2y ago
What? Basically every store I go to adds a fee for credit transactions.
AlexandrB 2y ago
The typical way stores get around it in Canada is with a "discount" if you pay cash.

BooneJS 2y ago

And yet several places do. “Menu reflects cash prices” and “tuition payment via credit card will be subject to a 3.5% fee” are 2 I got this week.

bhelkey 2y ago

The EU regulates credit card fees caping them at 0.3% [1]. That is roughly a fifth of the fees charged in the US and roughly two orders of magnitude smaller than Apple app store fees. [1] https://eur-lex.europa.eu/EN/legal-content/summary/fees-for-card-based-payments.html https://eur-lex.europa.eu/EN/legal-content/summary/fees-for-...

thefounder 2y ago
I think that’s a different fee. As a merchant accepting credit card or debit card payments is going to cost you the same 2-3%. At least that’s what Stripe or local payment processors charge
- bhelkey 2y ago
  Stripe charges 1.5% + €0.25 ($0.27) in the EU to accept EEA cards [1]. Stripe charges 2.9% + $0.30 for processing domestic cards in the US [2]. The reason it charges 1.4% more for accepting US cards is the US card fees (interchange fees). These fees are complicated and roughly five times more than European card fees [3]. [1] https://stripe.com/en-fr/pricing https://stripe.com/en-fr/pricing [2] https://stripe.com/pricing https://stripe.com/pricing [3] https://www.nerdwallet.com/article/small-business/credit-card-processing-fees https://www.nerdwallet.com/article/small-business/credit-car...

criddell 2y ago

It varies state-to-state. https://www.bankrate.com/credit-cards/business/can-a-business-charge-for-using-credit-card/#surcharge https://www.bankrate.com/credit-cards/business/can-a-busines...

ang_cire 2y ago

What? Basically every store I go to adds a fee for credit transactions.

AlexandrB 2y ago

The typical way stores get around it in Canada is with a "discount" if you pay cash.