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When will 'minimum purchase' restrictions go away?
Posted on 9/16/15 at 9:31 am
Posted on 9/16/15 at 9:31 am
Is it my fault someone doesn't know how to run their business and wants to pass the cost of doing so on to the consumer in ways like having a minimum purchase to use a credit or debit card??? It's 2015. Get with the program. People don't deal with cash anymore!!!
4
Posted on 9/16/15 at 9:33 am to BabyTac
You can blame Illinois Senator Little Dick Durbin for that.
Posted on 9/16/15 at 9:34 am to BabyTac
Meant for OT?
Posted on 9/16/15 at 9:34 am to BabyTac
Unless you think Les Miles or Joe Alleva are to blame for this, then wrong board!
Posted on 9/16/15 at 9:36 am to BabyTac
When it costs the company $2.00 for a credit card transaction, and you spend $1, they lose money.
Also, depending on the company, like a busy bar, they may lose more money spending time on a credit card transaction, like printing out a receipt, Waiting for you to sign it, ect... Than they would if it was cash and they could move on to the next customer quickly. After 100 credit card transactions, that is a lot of drinks/food not sold.
So this is a little way to make up for it.
Just my 2 cents.
Oh, and move to the OT.
Also, depending on the company, like a busy bar, they may lose more money spending time on a credit card transaction, like printing out a receipt, Waiting for you to sign it, ect... Than they would if it was cash and they could move on to the next customer quickly. After 100 credit card transactions, that is a lot of drinks/food not sold.
So this is a little way to make up for it.
Just my 2 cents.
Oh, and move to the OT.
This post was edited on 9/16/15 at 9:38 am
Posted on 9/16/15 at 9:46 am to Abikaasa_Posti_Teel
quote:
When it costs the company $2.00 for a credit card transaction, and you spend $1, they lose money. Also, depending on the company, like a busy bar, they may lose more money spending time on a credit card transaction, like printing out a receipt, Waiting for you to sign it, ect... Than they would if it was cash and they could move on to the next customer quickly. After 100 credit card transactions, that is a lot of drinks/food not sold. So this is a little way to make up for it. Just my 2 cents. Oh, and move to the OT.
EXACTLY......... People who own a business understands this immediately. The average consumer has no clue what a business has to "give away" to accept credit cards. We do it because the consumer doesn't want to carry cash, I get that. Now if the consumer doesn't mind paying the extra fees added to it, then I would see no problem. However, every customer wants prices to be cheap, until they own a business and understand how hard it is when you take a huge risk and start a business. $2 is too much in your "lower end sale" example but it aint cheap to accept cards. It's a percentage given up and swipe fees that get you. There's my 2 cents. Now we have 4 cents
This post was edited on 9/16/15 at 9:56 am
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