re: #269 thedopefishlives

I thought processing fees were paid for by the stores offering the credit; Anymouse’s post seemed to indicate that there were fees on both ends, that the store was being charged a fee to offer credit and the consumer was being charged a fee to use it. That seems like an issue, if it’s meant to be the same processing fee.

The merchant is supposed to cover all the fees in its pricing. I believe part of the agreements to set up with a card processor and a bank is that you will not charge a higher price to card users. That said, (some) gas stations around here have cash and credit prices, so I don’t know how that works out. I have also seen companies that use PayPal to process payments charge 3 percent if the person chooses to use a credit card as opposed to cash from a linked checking or savings account. But PayPal is not exactly a credit processor, as opposed to say, Stripe, which is.

Let’s just say that the whole thing is crazy and the only part I really care about in my day to day is that all the fraud systems are up and running, because, as I said, if the fraud systems are down or slow, it is not a good day.