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Posted on 8/2/26 at 1:15 pm to wm72
quote:
I'm sorry but this just seems like a joke. Not any of those things you mention take more than a couple of minutes in a day. I pay a bank $2000 a month for processing card payments. I could basically create a $100 an hour job to do the things you list and still profit.
No issues until that employee steals from you…
It’s hard to steal credit card deposits.
Also lots of studies show paying with card means buying more.
Lots of little issues add up. If you are paying 3% fee, you are getting 1% in risk reduction and time savings, plus the profit on additional sales
Posted on 8/2/26 at 1:18 pm to wm72
I find it interesting in this thread how some owners say debit costs are same and others say it’s cheaper.
Considering debit has less protections and little to no reward point costs, maybe some of yall need to talk to your merchant processors..,
Considering debit has less protections and little to no reward point costs, maybe some of yall need to talk to your merchant processors..,
Posted on 8/2/26 at 1:19 pm to More beer please
quote:
You can get around most laws surrounding it by giving a cash discount instead.
I think we will start seeing a lot more of this.
Posted on 8/2/26 at 1:20 pm to Mlear
quote:
it's moronic to use a debit card.
Ehh. No issue with it at safe places where I use chip function.
Never use it online or for travel (rental cars, hotels, etc)
Posted on 8/2/26 at 1:24 pm to LSUFanHouston
Why on earth is the charge a percentage of the total bill and not a flat processing charge?
Posted on 8/2/26 at 1:28 pm to LSUFanHouston
quote:
No issues until that employee steals from you…
It’s hard to steal credit card deposits.
Also lots of studies show paying with card means buying more.
Lots of little issues add up. If you are paying 3% fee, you are getting 1% in risk reduction and time savings, plus the profit on additional sales
Why can't I make that decision as a small business owner?
Why does government need to tell me that I can't pass a precise charge based on a customer choice on to the person choosing that service?
Why can't I just inform the customer and they make a decision on whether to use a card or cash or how much to buy?
Who does it benefit if I try to hide precisely why I'm charging 3-4% more?
Not the small business nor the customer.
Posted on 8/2/26 at 1:29 pm to LSUFanHouston
quote:
Ehh. No issue with it at safe places where I use chip function
Beyond that though, why wouldn't you want to earn the points from a credit card? Is your debit card giving you good rewards?
Also, in response to your other post I agree some folks need to talk to their processors because it is definitely a lesser fee for debit. If I remember correctly my company was paying 0.75 or 1% for debit and about 3% for cc.
Posted on 8/2/26 at 1:46 pm to wm72
quote:
Why does government need to tell me that I can't pass a precise charge based on a customer choice on to the person choosing that service?
Well, are you passing on the exact charge or marking it up?
quote:
Why can't I just inform the customer and they make a decision on whether to use a card or cash or how much to buy?
Sure. But does your advertising / signage indicate this? Or is it a gotcha at payment time?
Posted on 8/2/26 at 1:47 pm to DiamondDog
quote:
Then like magic
It wasn't magic, it was Dodd-Frank, which was passed by (D) to help out "the little people."
Pushing for debit and requiring the PIN was a way to reduce fraud vs. credit cards which were signature only prior to EMV being pushed by the card brands (Visa,MC, Amex.) The fraud reduction risk was material, but pales in comparison to the fraud reduction with chip + pin or tap to pay.
Posted on 8/2/26 at 1:55 pm to udtiger
quote:Is this a new law? Because I used my debit card at a restaurant a few months back and got hit with the fee. When I asked, they said they charge debit and credit.
It's illegal in Louisiana to charge a transaction fee for using a debit card as of today.
Posted on 8/2/26 at 2:01 pm to LSUFanHouston
quote:
Sure. But does your advertising / signage indicate this?
Yes, absolutely.
quote:
Well, are you passing on the exact charge or marking it up?
I try to pass on the exact charge because I respect my customers.
But, does this question also apply to banks just passing on the exact costs of processing card payments or can they mark it up?
Posted on 8/2/26 at 2:03 pm to TDFreak
quote:
Is this a new law? Because I used my debit card at a restaurant a few months back and got hit with the fee. When I asked, they said they charge debit and credit.
Effective 8/1/26
Posted on 8/2/26 at 3:13 pm to wm72
quote:
But, does this question also apply to banks just passing on the exact costs of processing card payments or can they mark it up?
Interesting question.
Is it simply a cost center to the banks, or is it a form of revenue?
Posted on 8/2/26 at 3:24 pm to udtiger
quote:
It's illegal in Louisiana to charge a transaction fee for using a debit card as of today.
This is not true. People are going around saying this and it adds to the confusion. A surcharge is illegal. A transaction fee can still be added under a dual pricing program which most people are using anyways. Surcharging always violated MC and Visa rules.
Posted on 8/2/26 at 3:26 pm to LSUFanHouston
quote:
Interesting question.
Is it simply a cost center to the banks, or is it a form of revenue?
Google, for whatever that's worth, says banks make a profit off POS debit card processing. The amount per transaction is small and actually capped by the federal government, they push to increase the overall volume of card transactions to increase their revenue.
This seems odd because if someone pays $10 with a debit card at my shop I'm charged $0.29 + $0.09
If they pay $1000, I'm charged $29.09 No cap
Maybe I do need to go through the pain in the huge arse of finding a different company but I do know that many of them give great rates to major retailers that aren't available to smaller businesses.
This post was edited on 8/2/26 at 5:01 pm
Posted on 8/2/26 at 4:08 pm to wm72
quote:
Maybe I do need to go through the pain in the huge arse of finding a different company but I do know that many of them give great rates to major retailers that aren't available to smaller businesses
The banks don't make that money, the transaction networks (Visa/MC/AMEX) and the processors do. Now, does the fact that Chase registers "Chase Payment Solutions" as a different subsidiary and not actually the bank mean your approach is 100% wrong? No. But most banks do not own transaction networks (like USAA, Brazos Valley Schools CU, etc.) and do not make money off of credit/debit transactions.
The quoted block is 100% true, they will give discounts based on transaction volume, overall spend, etc. If you're a small business, you may find a processor that is financially a bit better, but will get nowhere the discounts Cane's, etc. will get. The clue for most people should have been the fact that Visa advertises during every major sporting event for millions of dollars a spot, yet nobody thinks about Visa on a daily basis, they just tap their card at shitty chicken restaurants and move on with their day.
There are a number of financial incentives you can provide (pay via check, verified by eCheck or whatever on transactions that you give them a $50 credit on future purchases, etc. You
Posted on 8/2/26 at 4:40 pm to LemmyLives
Thanks for the explanations.
I still fail to see why it's so objectionable that customers simply pay the fee a small business gets charged for the customer choosing to use a card for their convenience?
If stores, like mine, decide to raise prices customers are going to pay more because I'm going to raise stuff from $16 to $17 instead of some uneven $16.48
The only entities I can imagine being helped are banks/CC processing companies that have interest in downplaying the extra 3-4% using the card costs.
Am I wrong to think that?
I still fail to see why it's so objectionable that customers simply pay the fee a small business gets charged for the customer choosing to use a card for their convenience?
If stores, like mine, decide to raise prices customers are going to pay more because I'm going to raise stuff from $16 to $17 instead of some uneven $16.48
The only entities I can imagine being helped are banks/CC processing companies that have interest in downplaying the extra 3-4% using the card costs.
Am I wrong to think that?
Posted on 8/2/26 at 4:46 pm to wm72
This is why dual processing plans (which most already use) are still legal. There are going to be plenty of mad people once they realize this new law doesn't apply to most situations.
This post was edited on 8/2/26 at 4:50 pm
Posted on 8/2/26 at 5:03 pm to MsState of mind
What? There is absolutely a lower interchange for non pin debit. You are price wrong, and too high, if u are getting charged flat rates.
I can fix that
I can fix that
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