quote:Originally posted by coaster It's my understanding that the same merchant fee is charged to the merchant regardless of whether the customer uses credit or debit.
Agree.
Although the fee does seem to vary - but it's about ~3%.
I think this is why sometimes if you go to smaller gas station or c-store they require people using cards to make at least a $5 purchase, or some sort of limit so they are at least forcing you to purchase more items to make more of a profit for assisting you than if you just bought a pack of gum with a card.
Wed Jan 12, 2011 5:05 pm
coaster Senior Advisor
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What I do is try to pay cash for purchases under $10, and I'd have no problem if that was made a requirement. I think it's reasonable to expect a merchant to make a profit on a transaction and if the card knicks them for three percent on a five percent markup the two percent that's left isn't going to pay even the overhead on a small transaction.
Thu Jan 13, 2011 5:01 pm
vkmsolution Contributing Member
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Re: Debit Card Vs Credit Card
quote:Originally posted by sarpras I will need information about debit card and credit card. Please specify difference between debit card and credit card.
In credit card you can buy today and pay later in debit card you need to pay today and buy today.
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