Fuel Price, Cash now means Cash.

Old-Biscuit wrote:

MotorPro wrote:
Had a credit card machine at my shop,if I took debit or credit I still had to pay the fee.

camperforlife wrote:
I don't understand where the writer of the article got his info. I take both debit and credit cards and I would love to get the rates quoted in the article you posted. Any debit card that the user does not use their pin is treated just like a credit card and depending on the card can be as much as 3.5% and a transaction fee on top of the % fee. A pin based debit card transaction is the cheapest for the merchant but I would guess that less than 3 % of all merchants do enough volume to qualify for a .10 transaction fee. Using a card of any kind cost the merchant and unless you are a huge company doing tens of thousands in transactions a day the cost would be enough to justify no cash discount.

Deb and Ed M wrote:
For our business - the debit and credit cards are processed the same, and there's a tiny savings to use a debit card. Maybe a tenth of a percent. American Express is more expensive than VISA or Mastercard, too.

However - the card processors don't make it easy to figure out what your actual rate is. I tried once, and after printing out about 8 pages of fractional rates - I simply gave up. Basically, the bigger you are ($ volume-wise), the cheaper your rate, assuming you shop around and bargain for the lowest rate.

The rates are going up as of April 11th. The letter I received says I can go to the "Interchange Qualification Matrix" to see what the new rate is. Are you getting a picture of what kind of gobbledegook is involved here?? It's easier to take a month's volume and divide it into the interchange fees total. Right now, for us, it's 3.4%

Now why do you folks want to go and confuse the issue with REAL LIFE EXPERIENCE? Don't you know that merchants are just rip off artists?? :B:B