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I shouldn't have to pay for your usury economy if I'm using cash. If that were really the issue, these companies would have no problems with businesses charging

I shouldn't have to pay for your usury economy if I'm using cash. If that were really the issue, these companies would have no problems with businesses charging different prices or offering discounts for cash.

eastbayjake 8mo ago
The networks allow cash discounts if it's posted clearly and the customer has an option to use a different payment method -- you see this on every gas station sign alongside every highway in America. (What's _not_ permitted is adding a secret surcharge or item mark-up for credit card payments)
- bombcar 8mo ago
  The latter is allowed now - after the backs of the credit card processors were broken. They fought tooth and nail against cash discounts OR credit surcharges and they finally lost. In some areas it's rampant that you get a pretty substantial discount - often 4 or 5%, better than cash-back - and many places post "cash prices". You can get even more if you're willing to ride the hassle of the gift card train. The credit card companies know people spend more if they use credit cards, and they turn around and sell that to the merchants.
  - graemep 8mo ago
    The UK actually forbids cash discounts and cred surcharges by law - and has done so since at least 2012. Credit card companies are allowed to run cashback for using them. All in the name of "consumer rights": https://www.gov.uk/government/publications/payment-surcharges https://www.gov.uk/government/publications/payment-surcharge...
    - direwolf20 8mo ago
      Some European countries forbid a price difference but they also limit card fees very low, so the merchant doesn't lose money and you don't get cash back. Forbidding a price difference but allowing high fees is nothing but pure corruption.
    - iso1631 8mo ago
      Mainly because cash processing fees are higher than electronic, and the primary use of cash is to avoid paying tax
- cmurf 8mo ago
  Surcharges are permitted in some states. Colorado law recently changed permitting merchants to pass on the actual cost of processing, except for cash, check and debit payments. https://colorado.public.law/statutes/crs_5-2-212 https://colorado.public.law/statutes/crs_5-2-212 This law overrides any prior contractual agreements with banks/processing companies that prohibit surcharges. This is previously how MasterCard and VISA coerced merchants into absorbing the processing fee, by contractually requiring credit same as cash pricing.
- unethical_ban 8mo ago
  Not true. A chain of restaurants near me does not accept cash, and charges 3.5% markup from their list price to cover CC fees. Texas.
  - eastbayjake 8mo ago
    If you'd like to get that fixed: https://usa.visa.com/Forms/visa-rules.html https://usa.visa.com/Forms/visa-rules.html
jonplackett 8mo ago
Companies did do that - but I belive now it’s not allowed to charge less for cash.
- nubg 8mo ago
  Yes this is exactly what GP is talking about (he just phrased it the other way round).
alex43578 8mo ago
Sure, as long as I don't have to pay for how much your cash costs the business in cash handling, security, theft, counterfeiting losses, and more. Studies show businesses pay more for a transaction in cash than on credit. If they really were losing out on taking cards, they wouldn't accept them.

eastbayjake 8mo ago

The networks allow cash discounts if it's posted clearly and the customer has an option to use a different payment method -- you see this on every gas station sign alongside every highway in America. (What's _not_ permitted is adding a secret surcharge or item mark-up for credit card payments)

bombcar 8mo ago
The latter is allowed now - after the backs of the credit card processors were broken. They fought tooth and nail against cash discounts OR credit surcharges and they finally lost. In some areas it's rampant that you get a pretty substantial discount - often 4 or 5%, better than cash-back - and many places post "cash prices". You can get even more if you're willing to ride the hassle of the gift card train. The credit card companies know people spend more if they use credit cards, and they turn around and sell that to the merchants.
- graemep 8mo ago
  The UK actually forbids cash discounts and cred surcharges by law - and has done so since at least 2012. Credit card companies are allowed to run cashback for using them. All in the name of "consumer rights": https://www.gov.uk/government/publications/payment-surcharges https://www.gov.uk/government/publications/payment-surcharge...
  - direwolf20 8mo ago
    Some European countries forbid a price difference but they also limit card fees very low, so the merchant doesn't lose money and you don't get cash back. Forbidding a price difference but allowing high fees is nothing but pure corruption.
  - iso1631 8mo ago
    Mainly because cash processing fees are higher than electronic, and the primary use of cash is to avoid paying tax
cmurf 8mo ago
Surcharges are permitted in some states. Colorado law recently changed permitting merchants to pass on the actual cost of processing, except for cash, check and debit payments. https://colorado.public.law/statutes/crs_5-2-212 https://colorado.public.law/statutes/crs_5-2-212 This law overrides any prior contractual agreements with banks/processing companies that prohibit surcharges. This is previously how MasterCard and VISA coerced merchants into absorbing the processing fee, by contractually requiring credit same as cash pricing.
unethical_ban 8mo ago
Not true. A chain of restaurants near me does not accept cash, and charges 3.5% markup from their list price to cover CC fees. Texas.
- eastbayjake 8mo ago
  If you'd like to get that fixed: https://usa.visa.com/Forms/visa-rules.html https://usa.visa.com/Forms/visa-rules.html

jonplackett 8mo ago

Companies did do that - but I belive now it’s not allowed to charge less for cash.

nubg 8mo ago
Yes this is exactly what GP is talking about (he just phrased it the other way round).

alex43578 8mo ago

Sure, as long as I don't have to pay for how much your cash costs the business in cash handling, security, theft, counterfeiting losses, and more. Studies show businesses pay more for a transaction in cash than on credit. If they really were losing out on taking cards, they wouldn't accept them.