Credit Card Charges

[RRLover]

How are you going to deal with it as a business ?
Most of my transactions are 4 figures & 1.75% charge isnt something i want to swallow.
I've seen a few of the big guys are going to be charging a service charge. What are you thoughts ?

[Ziplobb]

you have to price it into your costs of doing business or seek an alternative method of payment - othewise make it clear it will cost an extra 1.75% - if your customers want to avoid it then they will pay by debit card or bank transfer or even a good old fashion cheque

[Flat-6]

Shop around for a better deal, once it kicks in they will all be scrabbling for business. I'm about to press the button on a rolling contract which is on (I think) 3p + 0.25% per transaction on credit and debit.

But I do expect to take a large amount of smaller transactions on that.

[Flat-6]

Ziplobb said:

you have to price it into your costs of doing business or seek an alternative method of payment - othewise make it clear it will cost an extra 1.75% - if your customers want to avoid it then they will pay by debit card or bank transfer or even a good old fashion cheque

They have changed the rules... and they kick in in 3 days!!!
You now cant charge the fees to the (consumer) customer.

[mlatham]

1.75% is a lot unless your payments are mainly from outside the EU, or on commercial cards. In either case, you can continue to apply a surcharge anyway. If not and you are processing consumer payments from within the EU, then definitely shop around.

[RRLover]

Debit card charges are 0.31% plus a 4p charge for every authorisation
CC Charges are from 1.31% to 2.4% dependant on the card.

I dont think its right to penalise the customers who pay by debit so why put my prices up ?
Its the merchant service companies who are ripping us off ... the merchants ?
How can there be a difference on price just because its a different card ? It beggars belief.

It amazes me how us little guys out there trying to earn a living are being shafted consistently.

Edited by RRLover on Friday 12th January 12:09