Steve Fossett

wrote in message
...
On Dec 3, 2:28 pm, B A R R Y wrote:
Maxwell wrote:

But I agree, plastic has become so universal, easy (no loose change),
and
accountable, I avoid using cash myself.

Same here. I even charge fast food and cab rides. G I hate change
enough to charge a total of $1.05 @ Wendy's!

About the only time I use cash is for incidental tipping, like sky caps,
or cash only food deliveries. In those cases, I need small bills, though.

Because of the fees the card companies charge, I rarely charge
anything under about $15. The merchant can actually be left with
nothing.
In the cases of certain small, family business, I won't use the card
at all, and they appreciate that.

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Aren't all the fees based on a percentage? Why would it really matter?

"Maxwell" #$$9#@%%%.^^^ wrote in message
...

Aren't all the fees based on a percentage? Why would it really matter?

There is a flat transaction fee and a percentage. Small volume businesses
pay highest for both.

Steve wrote:
There is a flat transaction fee and a percentage. Small volume businesses
pay highest for both.


Depends on how small the business's CC traffic is.

My plane co-owner owns a bicycle shop. I've worked part time there for
7 years. I think the original $15 number is far overstated based on his
business, as well as another friend's (2) package stores.

Everybody charges nearly everything at the package store, and most
transactions are under $15. Think about the typical lunch transaction.
$6, $7, maybe $9 or $10? All of my favorite one-off lunch haunts
gladly accept my cards.

Specifically at the bike shop, transactions over $35 are cheaper for the
merchant if the customer uses a debit card, under is better with credit.
We encourage college students who want to buy a $5 tube with a debit
card to let us run it as a Visa or Mastercard.

B A R R Y wrote:
Steve wrote:
There is a flat transaction fee and a percentage. Small volume businesses
pay highest for both.


Depends on how small the business's CC traffic is.

My plane co-owner owns a bicycle shop. I've worked part time there for
7 years. I think the original $15 number is far overstated based on his
business, as well as another friend's (2) package stores.

Everybody charges nearly everything at the package store, and most
transactions are under $15. Think about the typical lunch transaction.
$6, $7, maybe $9 or $10? All of my favorite one-off lunch haunts
gladly accept my cards.

Specifically at the bike shop, transactions over $35 are cheaper for the
merchant if the customer uses a debit card, under is better with credit.
We encourage college students who want to buy a $5 tube with a debit
card to let us run it as a Visa or Mastercard.

Transaction fees are also usually tied to volume.


--
Jim Pennino

Remove .spam.sux to reply.

wrote:

Transaction fees are also usually tied to volume.


Right! And the merchant's provider.

Some smaller merchants actually get decent deals from small local banks,
or discount consolidators like Costco Wholesale.

Others have suffered shark attacks...

"B A R R Y" wrote in message
...
| wrote:
|
| Transaction fees are also usually tied to volume.
|
|
| Right! And the merchant's provider.
|
| Some smaller merchants actually get decent deals from small local banks,
| or discount consolidators like Costco Wholesale.
|
| Others have suffered shark attacks...

But does the individual sale amount ever vary the cost?

I don't take credit cards in my business, but all the offers made to me to
do so have always been a straight percentage.

Maxwell #$$9#@%%%.^^^ wrote:

"B A R R Y" wrote in message
...
| wrote:
|
| Transaction fees are also usually tied to volume.
|
|
| Right! And the merchant's provider.
|
| Some smaller merchants actually get decent deals from small local banks,
| or discount consolidators like Costco Wholesale.
|
| Others have suffered shark attacks...

But does the individual sale amount ever vary the cost?

I don't take credit cards in my business, but all the offers made to me to
do so have always been a straight percentage.

The costs to the merchant are going to depend on the provider, the numerical
volume, and the money volume.

There is usually a monthly minimum fee.

For a retail business with high volumes, the minimum becomes a non-issue
and the rate is normally a straight percentage.

If the business is such that credit card volume is really low, the fees
can easily eat up all the profit.

Like everything else in life, it depends.


--
Jim Pennino

Remove .spam.sux to reply.