RE: FN-FORUM: Charging for payments

date posted 9th January 2006 19:02


>It isn't legal to charge more for credit purchases than for cash - this
>makes sense, if you think about it - it's designed to protect consumers
>from people who charge extra to buy on credit, or use it as a method to
>conceal a higher markup.


People don't charge more for CC purchases, they charge a handling fee.

They shouldn't be allowed to charge for debit cards as for most companies
debit cards are the cheapest way to accept a payment, since it is flat
handling fee, rather than percentage. For most large companies CC are
cheaper than cash, hence the invention of cash back - remove expensive money
from your tills and increase the size of each debit card payment, reducing
the percentage cost of the transaction

Damon


Damon Birch
Bespoke Web and Server application
www.3dl.ltd.uk