Quote:
Originally Posted by JMintzer
But you're assuming they actually up the CC charges...
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When I owned a business many years ago, the bank who processed the credit card charges had a complete list of every card that we could accept. The bank fees ranged from about 1 to 3 percent depending on the type of card used and the amount and our average monthly transaction. The cash back cards had higher fees. But, the fact is that most restaurants could never survive if they didn't accept credit cards. The credit card customers spend more money than cash customers. Raising prices to cover credit card fees would not make sense. I think the banks are actually helping merchants to make more money.