Quote:
Originally Posted by Ksyrup
The next place this shows up is going to be credit card transaction fees. There's a similar line of thought that poor people are subsidizing rich people's use of credit cards for transactions because most retail prices take into account the vast number of credit card transactions and the 2-3% transaction fees retailers pay. So your poor guy paying in cash is subsidizing the rich guy's use of credit cards.
There are some places (mostly services like HVAC, flooring, landscaping, etc.) where I've seen companies add that credit card fee on top of the price if you insist on paying by credit card instead of cash/check, but most retailers don't separate it out. But I think you're going to see some form of transfer of that payment obligation to people more likely to use credit cards. I'm not sure exactly what form that will take though.
|
It is fair. But I can see lots of pushback b/c the people who have cards, as you noted, have more resources than those that don't. Considering that, and considering the lobbying power to the big card companies, I'd be surprised if states don't start outlawing different prices for cash/card.