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re: Linda's in Watson charges 4% if you use a debit card
Posted on 12/29/22 at 8:52 am to Spasweezy
Posted on 12/29/22 at 8:52 am to Spasweezy
quote:
I pay close to 40k a year processing credit cards for customers. We’ve just baked it into the prices vs. charge different payment prices for different forms of tender. Out of sight, out of mind. I wish we could get rid of tips altogether too and just bake that into the overall price as well.
So if my maths be correct you're bringing in about 1.5 mill a year just in CC transactions. You probably have decent margins and high volume. Maybe Linda is a small mom and pop shop that needs to squeeze every penny to get by.
1
Posted on 12/29/22 at 8:54 am to BeepNode
Linda’s needs to worry about cleanliness. Last time I went there were ants on every table.
Posted on 12/29/22 at 4:22 pm to DMAN1968
quote:
I fail to see the problem here. It's not tax evasion or some other under the table scam...it's a small business trying not to lose a percentage (although small) of it's sales.
They can't just increase their prices 2% as the fee would increase on that increase. What percentage increase would be needed to break even on the original fee?
Why is this even an issue?
Nothing says dumbass small business owner than a card transaction fee because it’s some nickel and dime bullshite.
If you want to make $10 per order but you’re worried about a $0.40 card processing fee, raise your prices to $10.50 and call it a day. It’s simple and won’t piss people off.
Posted on 12/29/22 at 4:27 pm to BeepNode
quote:
Debit card transactions only cost the business around 60 cents.
this varies by merchant, how the card was processed, like was the pin used or not, and you have annual fees too, not just per transaction.
quote:
Yes. Merchants must pay interchange fees on debit transactions, as well as whatever markup the processor charges. In addition, a payment processor will typically pass through annual network fees and other costs.
This post was edited on 12/29/22 at 4:28 pm
Posted on 12/29/22 at 4:28 pm to BeepNode
Pizza place near me charges a 2.5% credit card fee. Stopped going there. Just add the 2.5% to every pizza menu price. Places that advertise they are ripping you off lose my business.
Posted on 12/29/22 at 4:34 pm to BeepNode
quote:
knew a lot of people that wouldn't go to Fleur De Lis because of their cash-only policy. They went outta business in spite of being rated as one of the best pizzas year after year. They don't have to pay ANY taxes on it now, I guess.
After 80 years in business. I doubt their policy regarding credit card transactions was cause for them closing.
Posted on 12/29/22 at 5:27 pm to tigerinthebueche
[quote]Lunch place in Watson known for its fried chicken.
and gumbo..... and fried okra etc..... They know how to cook and are reasonably priced.
and gumbo..... and fried okra etc..... They know how to cook and are reasonably priced.
Posted on 12/29/22 at 5:30 pm to kywildcatfanone
Wait until CBDC hits and the banks steal 3% of your cash and savings then everything you buy costs you another 3%.
Posted on 12/29/22 at 5:41 pm to PUB
I never pay in cash at restaurants because I need them sweet, sweet CC points to pay for my hotels stays on vacays 
Posted on 12/29/22 at 6:34 pm to BeepNode
Wait till you hear “we don’t accept cash”.
Posted on 12/29/22 at 7:39 pm to dgnx6
quote:
this varies by merchant, how the card was processed, like was the pin used or not,
Debit, not credit.Debit is cheaper than credit, PIN or not. It's probably around 60 cents, total on typical orders.
Credit card transactions are generally below 4%. 4% effective after all is said and done is basically the most I've ever heard of a business paying in the modern era.
quote:
and you have annual fees too,
Do they waive the annual fees if you charge their customers more and have fewer overall credit transactions?
Posted on 12/29/22 at 7:40 pm to BeepNode
Now I’m lying here with Linda on my mind
Posted on 12/29/22 at 7:41 pm to BeepNode
Well most government agencies charge 3.95%. I saw that is how much the local Sheriff’s offices are charging to pay your property taxes. Visa debit transactions were a flat 4 dollar fee, 1 dollar for an Echeck, I believe.
I am mailing my tomorrow so it will be postmarked December 30, since my local SO will be closed on Friday otherwise I would have paid in person.
Mailed check payments go to a lock box service out of state.
I am mailing my tomorrow so it will be postmarked December 30, since my local SO will be closed on Friday otherwise I would have paid in person.
Mailed check payments go to a lock box service out of state.
Posted on 12/29/22 at 9:43 pm to cyarrr
quote:
After 80 years in business. I doubt their policy regarding credit card transactions was cause for them closing.
Credit cards haven’t been the primary mode of spending for the average American for 80 years. They are now.
Most people I know who avoided FDL did so because they didn’t take CC and their waitstaff sucked arse. Personally, I thought their pizza was dogshit as well, rounding out the trifecta
Posted on 12/29/22 at 10:03 pm to White Bear
That you, Conway?
Posted on 12/29/22 at 10:17 pm to BeepNode
quote:
Credit card transactions are generally below 4%. 4% effective after all is said and done is basically the most I've ever heard of a business paying in the modern era.
Yeah, a 4% effective rate is crazy high. Although I would believe it if someone said their processor is dicking them on monthly fees, because anyone who agrees to 4% will agree to anything.
Posted on 12/29/22 at 10:31 pm to tigerinthebueche
quote:
Immaturity. It’s too much adulting to carry cash. I mean, you know, like, how can you expect them to, you know, like, keep track of a bunch of paper? . I mean, I can’t even…
It's literally the complete opposite. Broke kids without debit or credit cards carry cash, adults carry and use cards.
That's why you're getting downvoted to hell and back. You've gotten irrationally angry ITT and couldn't be more wrong, yet you've chosen this hill to die on for some reason
Posted on 12/29/22 at 11:03 pm to BeepNode
quote:
Debit, not credit.Debit is cheaper than credit, PIN or not. It's probably around 60 cents, total on typical orders.
Oh, credit card charges are generally higher. I’m just saying they may have a shite deal with a merchant on their debit transactions. It’s possible.
I’m not arguing for their approach to this. I’m just saying it’s possible they figured it’s more than $0.60 per transaction. That’s all.
This post was edited on 12/29/22 at 11:06 pm
Posted on 12/30/22 at 9:33 am to RazorBroncs
quote:
It's literally the complete opposite. Broke kids without debit or credit cards carry cash, adults carry and use cards.
That's why you're getting downvoted to hell and back. You've gotten irrationally angry ITT and couldn't be more wrong, yet you've chosen this hill to die on for some reason
The human brain is incredibly resilient, except in the instance that we realize that we're wrong. Studies have shown that being shown evidence that we are wrong lights up the same areas of the brain as literal physical pain. It's honestly amazing to watch the mental gymnastics people will subject themselves to simply to avoid admitting they were wrong on something super fricking trivial.
Posted on 12/30/22 at 9:39 am to lsu777
quote:
3 its 4% at a place that sells fried chicken. its at most what....$2??? quit bitching about everything
Just to be clear, the OP had originally posted that it was a $4 fee and later corrected it to show 4%.
I have no problem with a 4% fee when it's a small business like this.
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