Posted by northeast puller on July 21, 2015 at 03:44:22 from (50.32.227.84):
Am I being bold or stupid need help in my thinking? I own and run a small True value hard ware store. The cost of taking credit and debit cards keep increasing. I will have to upgrade my card machine for the new chip cards for around $800 bucks. This will be my third upgrade in 4 years. I by no means to the volume of cards like wally world does. So my transaction fees are high. I have shopped other venders and am at the best rate for my volume. I think most store just pass the rising cost on to the customer. I have a problem doing that to my cash paying customers and in my eyes is not fare. It is legal for me to pass on the transaction fees to the card holder up to 4 percent. I can configure the cash register to add it or not at my discretion. When you hit the credit card key. My average sale ticket is about $11 bucks. With big purchase I could add it or not. I could put a sign up telling people of the transaction fees and trying to be fair to my cash customers. At that point it is your choice to be a card or cash customer or should I just raise price to reflect the ever changing cost of taking cards and just move on? How would you feel as a card customer and what would you do in that situation or should I just continue on like I have been doing?
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