Cost to merchant of customer using Credit Card.
Discussion
Are you sure? I believe some use a per transaction fee, like 20p for any amount. This is the reason some transactions are 'stored' when below a certain floor limit decided by the retailer, and processed at the end of the day. Only drawback being fraud transactions lay with the retailer as the auth code will be a retailer one. (I might be talking rubbish as it was a long time ago when I losely worked in that area)...
Brother D said:
Are you sure? I believe some use a per transaction fee, like 20p for any amount. This is the reason some transactions are 'stored' when below a certain floor limit decided by the retailer, and processed at the end of the day. Only drawback being fraud transactions lay with the retailer as the auth code will be a retailer one. (I might be talking rubbish as it was a long time ago when I losely worked in that area)...
I think you might be confusing DC with CC charges.Brother D said:
Are you sure? I believe some use a per transaction fee, like 20p for any amount. This is the reason some transactions are 'stored' when below a certain floor limit decided by the retailer, and processed at the end of the day. Only drawback being fraud transactions lay with the retailer as the auth code will be a retailer one. (I might be talking rubbish as it was a long time ago when I losely worked in that area)...
Per transactions fees are normally for debit rather than credit card transactions.Thanks.
The merchant has been excellent and I was really just wanting to know if I would effectively be doing them a favour (admittedly at no cost to me) by paying by cheque rather than card and it seems I would. I didn't realise merchants paid a percentage to the Card company. That must irk a bit.
The merchant has been excellent and I was really just wanting to know if I would effectively be doing them a favour (admittedly at no cost to me) by paying by cheque rather than card and it seems I would. I didn't realise merchants paid a percentage to the Card company. That must irk a bit.
renmure said:
Thanks.
The merchant has been excellent and I was really just wanting to know if I would effectively be doing them a favour (admittedly at no cost to me) by paying by cheque rather than card and it seems I would. I didn't realise merchants paid a percentage to the Card company. That must irk a bit.
The retailers don't pay the charge , the customers do The merchant has been excellent and I was really just wanting to know if I would effectively be doing them a favour (admittedly at no cost to me) by paying by cheque rather than card and it seems I would. I didn't realise merchants paid a percentage to the Card company. That must irk a bit.
I dont follow you.
In this case the agreed price is firm. I pay the same total whether by card, cheque or cash. I clarified that after agreeing the price but I could see a look of disappointment when I said it would probably be card, hence the original question since I didn't appreciate it mattered to them.
In this case the agreed price is firm. I pay the same total whether by card, cheque or cash. I clarified that after agreeing the price but I could see a look of disappointment when I said it would probably be card, hence the original question since I didn't appreciate it mattered to them.
renmure said:
I dont follow you.
In this case the agreed price is firm. I pay the same total whether by card, cheque or cash. I clarified that after agreeing the price but I could see a look of disappointment when I said it would probably be card, hence the original question since I didn't appreciate it mattered to them.
There no way that I would pay the CC from my pocket , always and I mean always Credit Card transactions incur a %fee In this case the agreed price is firm. I pay the same total whether by card, cheque or cash. I clarified that after agreeing the price but I could see a look of disappointment when I said it would probably be card, hence the original question since I didn't appreciate it mattered to them.
Now , that charge should be built in the price if they didnt mention it to you.It may be that whoever takes their payments has a long delay in paying them ( normally a few day with Visa , Amex up to 14 days ) It may be that they owe money to their merchant acc provider?
Ah, ok I am with you now. Thanks.
Perhaps the potential for a CC fee was
allowed for by them within the "haggle" to reach the final agreed price. I can't really complain about I guess that since it was my price that was agreed to.
In any event, it seems that by not using a card I can effectively say "thanks" and make them 1% or 2% better off which was the original intention behind the question.
Perhaps the potential for a CC fee was
allowed for by them within the "haggle" to reach the final agreed price. I can't really complain about I guess that since it was my price that was agreed to.
In any event, it seems that by not using a card I can effectively say "thanks" and make them 1% or 2% better off which was the original intention behind the question.
frosted said:
renmure said:
Thanks.
The merchant has been excellent and I was really just wanting to know if I would effectively be doing them a favour (admittedly at no cost to me) by paying by cheque rather than card and it seems I would. I didn't realise merchants paid a percentage to the Card company. That must irk a bit.
The retailers don't pay the charge , the customers do The merchant has been excellent and I was really just wanting to know if I would effectively be doing them a favour (admittedly at no cost to me) by paying by cheque rather than card and it seems I would. I didn't realise merchants paid a percentage to the Card company. That must irk a bit.
I charge no more for CC transactions than any other and I don't build in a fee to cove my annual CC fees either.
We don't add anything for card payments either. Cash is a headache for us, in terms of how much we would receive, and cheques are OK, but we are not paid if it bounces and 50p to pay in. Debit cards are the best. We will also get the money usually next day for most, if not all cards except Amex, and then it is 7 days. In the card merchant terms you can't add a fee and also you can't stipulate a minimum transaction either, although many retailers do.
The % is based upon all sorts of issues, and risk related items are carrying a higher %.
Most retailers wont charge you extra for using a CC, Amex might be an exception as their fees are higher. Debits are almost always a flat fee.
You can try an negotiate a discount based upon cash/cheque but you as someone has already mentioned you get no protection.
We get about 0.9% at moment and very quick settlement. No chargebacks for over a year and only had one ever in about £4.5 million of sales. So we now get new merchant numbers when needed in 2 days for new sites.
Most retailers wont charge you extra for using a CC, Amex might be an exception as their fees are higher. Debits are almost always a flat fee.
You can try an negotiate a discount based upon cash/cheque but you as someone has already mentioned you get no protection.
We get about 0.9% at moment and very quick settlement. No chargebacks for over a year and only had one ever in about £4.5 million of sales. So we now get new merchant numbers when needed in 2 days for new sites.
cheddar said:
Not my customers
I charge no more for CC transactions than any other and I don't build in a fee to cove my annual CC fees either.
Aha, the famous free lunch I've heard about. I charge no more for CC transactions than any other and I don't build in a fee to cove my annual CC fees either.
You do add it in really though, because CC charges is one of you business costs and so are part of all of your prices.
otherman said:
You do add it in really though, because CC charges is one of you business costs and so are part of all of your prices.
A business cost does not have to be part of the price. I don't take CCs any more but if I quoted a price for something, say £2,000, and then the client said 'Oh and can I pay by credit card?' I had three options:1) 'Yes but I need to add on 4% for the CC fee'
2) 'No'
3) 'Yes'. And then I pay the fee out of my margin. My loss.
Edited by Simpo Two on Friday 3rd December 20:27
A205GTI said:
If I was the OP I would pay by CC irrelevant or not whether they were upset over this, purely because of the value of the goods in case something goes wrong, also having worked in this trade lets just say margins are very good for the retailer!
I thought that claims on a CC generally were not covered if goods above £5k.Gassing Station | Business | Top of Page | What's New | My Stuff