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re: 3% Credit Card Fee
Posted on 2/2/24 at 9:53 pm to stout
Posted on 2/2/24 at 9:53 pm to stout
quote:
That's usually against the ToS of their credit card processing provider
I know when I owned a gas station my processor was very clear that you aren't allowed to do that
Maybe things have changed or they don't care but it's a cost of doing business and seems petty to pass it down to the consumer
The processing companies that provide the service are actively recruiting businesses to use their machines/services and enact these fees, and it is a kickback scheme. It is essentially a 3% bump for the business disguised as a fee paid to the CC processing company. What the business has been paying for the CC service doesn't change, the price a customer pays is just jacked up 3% on the back end and the profits are split based on the percentages in the contract.
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