Merchants’ ‘victory’ over credit card fees will just complicate things more for them

Do small business owners think that Visa and Mastercard won’t just recoup their fees elsewhere?Want to buy a new shirt from your friendly neighborhood small business? In some cases, be prepared to pay out 2.5% more as a “financing” fee because you’re using a credit card. Enjoying that meal at the local diner? Better have cash or you could be subject to the same fee. Grabbing a bag of chips and a soda at the local convenience store? Oops … Unless you’re prepared to spend a minimum of 10 bucks you can’t use your credit card, sorry.I’ve always been irritated by these practices. And I know I’m not alone. Who carries cash any more? Why are we, the customer, being shamed because we choose to buy something using what has become a standard form of payment over something that’s clearly a thing of the past? Continue reading...

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