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06-23-2011, 10:00 AM | #28 |
Living Legend
Join Date: Mar 2006
Location: PA
Age: 45
Posts: 17,460
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Re: Charges for using credit cards?
I just remembered that a coffee shop by my office that I go to almost every day (I get coffee for free there actually) has a $2.00 minimum if using a card for the exact reason of merchant fees.
Every business/merchant contract will have a transaction amount that's a break-even point for profits. If a transaction is processed below that amount, the business will be losing money. For a business selling goods/services at higher prices, this is not an issue, but for low-priced transactions, this must be found and addressed if the business wants to turn a profit. That's why you see a lot of coffee shops/convenience stores, etc with these extra fees or minimum transaction amounts for c/c customers.
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