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Money and Finances
Reply to "Credit Card Fees passed through from merchant"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]But how do they justify charging as a PERCENT? [/quote] The merchant pays a percentage of the total transaction to the card processor. In addition to that, they pay a fixed fee. [/quote] That's insane then. Because the cost of processing is completely independent from the price of the service/item. So people will NOT find it more convenient to use a credit card at all, thus negating the utility of a credit card payment. Many people use them because it's electronic and protected. Not because they can't afford something and need to finance it. If that need goes away, is ACH as protected? Will companies accept checks in the mail and the wait times and processing involved in that?[/quote]
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