Re:More businesses are not accepting cash
by 1over137 on Sunday December 30, 2018 @02:19AM
(#18787923)
Specifically, they pass it on to all their customers, not to only those customers using cards (doing so is against the merchant-processor agreements). i.e. those using cards are in effect increasing the price for those not using cards.
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in many places in europe there will be a surcharge added depending on the type of card you’re paying with.
Re:More businesses are not accepting cash
by pbhjpbhj on Sunday December 30, 2018 @04:27AM
(#18788277)
It still happens in UK (some small businesses) but AFAIK [1] it's no longer legal.
It's a massive problem for businesses with lots of small transactions, if you're selling a £2 coffee and the CC processor charges 30p + 5% per transaction. Previously nearly no-one would pay the extra, now you have to cover it; so you make the coffee £2.40 ... but the large retailer with a blanket 3% transaction cost (or whatever) can undercut you by quite a lot.
https://www.theguardian.com/money/2018/jun/17/credit-debit-c...
Re:More businesses are not accepting cash
by mattridley on Sunday December 30, 2018 @04:39AM
(#18788316)
This was banned across the EU in January (providing both the retailer's and purchaser's banks are in the EU). In the UK they extended it to all payment methods (PayPal etc)