Credit Card Swipe Fees Begin Sunday In USA 732
An anonymous reader writes "A speedbump on the road to a cash-free economy will go into effect Sunday in the U.S., as retailers in 40 states will have the option of passing along a surcharge to customers who pay with credit cards. The so-called swipe fees arose from the settlement of a seven-year lawsuit filed by retailers against Visa, Mastercard, and big banks, who collect an electronic processing fee averaging 1.5 to 3 percent on transactions involving credit cards. The banks naturally have opposed the consumer surcharges, preferring that the extra costs to be passed along in the form of higher prices. Consumers in ten states (California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma, Texas) won't be affected, since laws in those states forbid the practice (it seems that gasoline station owners here in Massachusetts got a different memo, though). Also, the surcharges won't be collected for debit or prepaid cards."
Haven't seen a story about bitcoin in a while (Score:1, Funny)
Bitcoins solve all problems
I think I know where you work. (Score:5, Funny)
Lets see here....
Complete disregard for providing quality customers service. Check
Arrogant attitude. Check
Believe that providing a crappy shopping experience will not result in any financial repercussions for the company you work for. Check.
I can only conclude that you are an employee of Best Buy.
Re:I'm curious to see how many retailers actually (Score:4, Funny)
I get thousands of dollars a year in rewards.
Interesting... you get free money, and wonder why there may be fees now?
It's not free money, it's a kickback. "As long as you are going to buy that HDTV anyway, why not use our credit card? We'll get the merchant for 4% and give you 1%..."
And you payed 4% higher price because of it, so here, we will make that easier and make it so you only lost 3%....