Quote:
Originally Posted by Arctic Fox
Businesses pay a lot less in fees when they accept a Debit card than a Credit card (usually 1% rather than 3%), so often their surcharge on a Debit card is lower.
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Usually even less on a Debit Card. Because the Banks and Servicers are so highly regulated, they usually play by the rules on Debit Cards. Merchants pay almost nothing for a Debit Card transaction.
To those who question the real cost. Attached is a Screen Shot of one of our small businesses, in the hospitality field (which pays slightly higher rates than retail stores). We're a fairly large business, that probably does somewhere around $50,000,000 in CC transactions per year, so our rate is lower than most.