tag:blogger.com,1999:blog-4233553492941290333.post3783057141843249534..comments2012-08-09T23:41:28.982+10:00Comments on Her Beauty and Her Terror: Cash or Card...Shannonhttp://www.blogger.com/profile/06303920698140795701noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-4233553492941290333.post-19301111045107644372011-03-22T06:35:06.619+11:002011-03-22T06:35:06.619+11:00Yeah, I think the cash out is the difference, supe...Yeah, I think the cash out is the difference, supermarkets being paid to be "pseudo ATMs". And yes, they pay to the bank when it's credit. They're called Merchant Fees, because (originally, anyway) banks felt they were providing a fancy service to those shops accepting the trusty Diner's Club card. Here, have our dodgy service, pay us for the service, oh and YOU the retailer can also have the risk. ;)<br /><br />ALDI supermarkets in Australia (at the very least) charge a 1% surcharge on credit card purchases, to offset the merchant fee.Shannonhttps://www.blogger.com/profile/06303920698140795701noreply@blogger.comtag:blogger.com,1999:blog-4233553492941290333.post-10921870154989467822011-03-21T21:39:55.814+11:002011-03-21T21:39:55.814+11:00Shan...guys that carry purses are hot! heheheheShan...guys that carry purses are hot! heheheheResearch Geekhttps://www.blogger.com/profile/03679589516701379006noreply@blogger.comtag:blogger.com,1999:blog-4233553492941290333.post-11322761432902296432011-03-21T18:15:34.815+11:002011-03-21T18:15:34.815+11:00Anonymous, Maybe for smaller businesses. But I KNO...Anonymous, Maybe for smaller businesses. But I KNOW supermarkets get paid by the bank to provide cash out.Shanhttps://www.blogger.com/profile/10781328398402666292noreply@blogger.comtag:blogger.com,1999:blog-4233553492941290333.post-23294217879044734402011-03-21T15:00:09.458+11:002011-03-21T15:00:09.458+11:00I think you will find that most retailers pay the ...I think you will find that most retailers pay the banks a commission to use EFTPOS or C/C facilities.<br />This varies between retailers depending on risk and/or turnover.<br />This can be as low as .8% or as high as 5%.<br />Retailers of jewellery and electronics would pay a higher amount whereas restaurants would be in the lower categoriesAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4233553492941290333.post-35075822289567844672011-03-18T21:58:22.835+11:002011-03-18T21:58:22.835+11:00I know some supermarkets get 1% of the cash out va...I know some supermarkets get 1% of the cash out value back from the bank and 2% if the cash out is done without a sale. <br /><br />The Good Guys "pay less pay cash" is crap. It should simply be "pay less and pay by any bethod except our in house high interest scheme"Shanhttps://www.blogger.com/profile/10781328398402666292noreply@blogger.comtag:blogger.com,1999:blog-4233553492941290333.post-18519378657409857072011-03-18T21:33:48.192+11:002011-03-18T21:33:48.192+11:00I agree it's only a matter of time and educati...I agree it's only a matter of time and education! Considering the amount of hassle that cash-handling causes in shops, it's amazing that it doesn't attract a surcharge (and in fact stupid that shops have to pay a *fee* to CC operators for the "privilege" of accepting credit as payment - this was even more stupid back in the days of manual credit transactions when the chances of accepting a stolen card for payment were far higher).<br /><br />But on the other hand I think they get a small commission on accepting EFTPOS, so that's probably the only reason they don't surcharge for cash. Kinda makes the whole cash business laughable (as in the Good Guys' sales pitch, which is obviously just a marketing ploy).Shannonhttps://www.blogger.com/profile/06303920698140795701noreply@blogger.com