[kwlug-disc] Cash becoming illegal?

Eric Gerlach eric+kwlug at gerlach.ca
Fri Nov 5 15:12:44 EDT 2010


On Fri, Nov 5, 2010 at 3:05 PM, John Van Ostrand <john at netdirect.ca> wrote:
> Unlike Paul, I'm fine with debit. The vendor pays a 40c per transaction fee regardless of the size of transaction.

Actually, nowadays it's more like $0.10 to $0.20, depending on the
volume of the vendor.

> Although the fairness of the amount is in question, the flat rate is suitable for something like that.
>
> Does anyone know if if Visa/MC has a flat rate on top of the percentage? What is the rate?

Not unless it's one of the new Visa Debit cards.  Much hate for double-dipping.

You also have to keep in mind that many Visa and MasterCards, mostly
the ones with special points or something, charge a higher rate to the
vendor than their standard rate, too.  It's annoying.

Cheers,

Eric



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