I wrote last week about the new credit card surcharges that went into effect on January 27, 2013 (also known as the checkout fee) that are designed to help retailers get some relief from credit card processing fees.
Unfortunately, most retailers don't see this as a solution.
Merchants in 40 states can now tack on a 1.5% to 4% surcharge on purchases paid for with credit cards (not debit cards). But most merchants have stated that they won't be passing this fee along in fear that customers won't buy from them all together if the fees are imposed. The law requires that customers know right up front that they will be charged a fee and the stores are required to have visible signage of this fact. The receipt must also itemize the surcharge separately. And this all holds true for purchases made online.
Many owners of small businesses said they could barely get people to comply with minimums they set on purchases made with a credit card (i.e., a $5 minimum purchase price must be met in order to use a card). Charging these fees would be next to impossible. To them, it's not a workable solution.
And the saga continues...
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