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Front page of the Times today, about companies overcharging credit and debit card fees that are passed on to customers.
Misinforming the public as ever by suggesting the average fee to a business is 0.6{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d}
I for one dont get near that on credit cards and even marginally above that on debit cards and then there is terminal rental and costs of electronic authorisations and bank deposit charges.
I dont charge for cards but can see the costs involved and understand why some business would need to, but now can see customer backlash and accusations of overcharging.Re: charging for credit cards
Well the airlines are the latest to drop credit card charges and rightly so. The public at large don’t what to be made aware of the costs to businesses by them blatantly adding a surcharge. Instead all businesses should hide their outgoing costs much like they do anyway for vehicle costs, insurance, accountancy fees and all and sundry.
Credit/debit card fees all part of factoring in ones overall outgoings. If you are VAT registered then only the 20{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d} additional charge be specified.
(I expect BA and Virgin will be ramping up their prices to offset their very public declaration about credit card fees anyway)
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