12-05-2023, 04:50 AM
(12-04-2023, 03:49 AM)HereOnThePrimalEdge Wrote: Use of Credit cards of any kind add an invisible charge to the cost of doing business
And if a customer uses a rewards card, the business pays even more, an extra 1-2%. Your credit card company crows about their generosity giving you miles or points. It doesn’t cost them a thing. The merchant pays it.
When I had a merchant account it was against the terms of service to charge any customer more for paying with a credit card (as opposed to cash or check). Every type of card had this requirement, and it was enforced.
Some years after that the credit card issuers lost a string of court cases and it was deemed their scheme was illegal. So now a merchant can tack on the credit card fees if they want to, including charging more for cards that cost them more to process.