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MasterCard Incorporated Message Board

  • enter_a_different_alias enter_a_different_alias Jan 31, 2013 9:58 AM Flag

    What about the new credit card "check out" fee?

    Why is it that nobody talks about the new credit card "check out" fees that are now law (except for 10 States that don't allow it). The new law allows merchants to charge credit card users up to 4% (not to exceed the merchant's interchange fee). The fee applies to MA and V but excludes AMEX (AMEX ironically has the highest interchange fee). Only one merchant, Walmart, has publically stated that they won't charge fees to credit card users. This has to have some impact to MA & V.

    In my opinion, merchants that start charging the fees will most likely see a decline in their sales. Personally, I won't buy from a cash only business unless I don't have a choice. By the way, you have the two #$%$, Dodd & Frank, to thank for this law, effective earlier in the week.

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    • Anyone purchasing a good with a credit card obviously isn't overly concerned about fees-- the interest rate the bank is slapping them with would have scared them off to begin with. Gas stations have already started posting separating prices per gallon depending on cash and card purchases. I still see people sliding that card-- what's a few extra bucks if I don't have to see the tally until the end of the month and make installment payments?

      Further-- their growth engines are Latin America, Middle East and Africa. Are they instituting these charges?

 
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