Reply to Credit Card Fees passed through from merchant

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]But isn't there a cost to these companies for using cash? They have to pay Brinks trucks and such? And isn't there a cost to them for managing echecks? [/quote]

Cash payments are by far the biggest headache for a business to handle vs other methods.  Our back office process for handling electronically deposited checks is nearly identical to handling credit card sales.  The difference is it costs us $200 a month to run a million in checks vs ~$22K for that same million in cards.  [b]We started offering a discount for payments by check in the fall of 2023 for our big jobs.  [/b]Factoring in the discount it ended up being just over $100K in found money in 2024.  Its a double edged sword though; I used to be able to easily charge $10 Million in expenses on our Business Amex any given year.  I couldn't tell you the last time I paid to travel or eat out.  More and more our vendors are going the same way either introducing a fee for credit card payments or juicing up the discount terms.                 [/quote]

This is what merchants should be doing. [/quote]

They always have offered a "discount" for cash, check, etc. 
It's not a "discount", that's the marketing gimmick term. It's just that they have to charge more for CC transactions, because the banks take a cut. [/quote]

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