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Cellar Scribblings
brianr:
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.
CellarDweller:
Hiya BetterMost friends.
I hope everyone is doing well!
;D
Left work pretty much on time on Friday, and it was pay day, so that made things even better.
;D
Woke up to freshly fallen snow, about two inches worth, but the temps have gone up enough that it's been melting most of the afternoon.
CellarDweller:
--- Quote from: Jeff Wrangler on February 26, 2019, 07:54:49 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.
--- End quote ---
--- Quote from: brian on February 26, 2019, 09:06:32 pm ---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.
--- End quote ---
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.
Jeff Wrangler:
--- Quote from: CellarDweller on March 02, 2019, 04:53:14 pm ---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.
--- End quote ---
"Commission" is probably what I was thinking of when I said something about companies charging a business for accepting their cards. But I frequently see signs about not accepting cards for purchases less than $5.00 or $10.00, especially in "mom and pop" convenience stores. I also frequently see signs indicating that a business will accept Visa or Mastercard but not American Express.
brianr:
Yes, we have stores with those signs as well. However, as I said, I do not use my card for small purchases, use to be $20 but now down to about $15. However see friends and others using card for a cup of coffee ($4.50)
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