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Cellar Scribblings / Re: Cellar Scribblings
« Last post by CellarDweller on March 02, 2019, 04:53:14 pm »I don't know if it's still true, but I believe at one time businesses had to pay the credit card company for the "privilege" of accepting the company's cards, so a business, especially a small one, saved money by accepting only cash.
Banks take a commission from the business when their card is used. American Express apparently charge a higher commission which is why you see signs saying their cards are not accepted. Banks here have guaranteed Paywave as, not needing a PIN (signatures are now only accepted if you are a tourist), they may be used before the owner realises their card is missing. Therefore the bank charges the business a higher commission. For that reason there is often a notice saying Paywave not permitted.
To my knowledge, the banks still take a commission. Sometimes you will go into a place and see a sign that charge cards are not accepted for purchases of under $5.00 or $10.00. That's because those business don't want to pay the commission on those small purchases, and will try to force customers to pay cash for them instead. Card companies have told business that they can't do that, but they still do it anyway.
