Swipe Fee Settlement Lets Merchants Surchage, But Will They?
Last week’s multibillion-dollar swipe fee settlement would give merchants the right to charge higher prices for purchases completed with a payment card, were it to take effect. But even if merchants did end up receiving that power, would they use it?
At this point, many merchants are “wrestling” with that very question, reports the Wall Street Journal.
Luan Schooler, a small business owner in Oregon, tells the Journal she might add a surcharge for purchases under $10. “We have people that will pay for a $1.50 soda on a credit card,” she tells Emily Maltby. “In those circumstances, we are losing money—or making so little, it wasn’t worth selling it in the first place.”