Tuesday, November 08, 2005

The Cost of Doing Business (Mail Tribune)

Credit card companies charge merchants per transaction, which can push up prices
By JOHN DARLING for the Mail Tribune

Few consumers realize that when they use their debit or credit card, the merchant must pay what amounts to a sizable tax on doing business, say managers of Ashland Food Co-op.

That’s why they’re discouraging shoppers from using plastic.

The co-op recently posted signs at checkout stands saying it spent $120,000 last year on card fees and that these expenses put pressure on prices. The signs urged people to use cash or checks, which cost the store nothing.

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[source: Mail Tribune]