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|reply to jaykaykay |
more here.......Here's a follow up story to jaykaykay's link.
The thing is that credit card processing fees can really add up for small merchants. For many business owners, it's tough to pass these costs down to the consumer indirectly.
Under the settlement's terms, any merchant that imposes a credit card surcharge must:
Post a notice at the checkout,
Post a sign on their storefront, and
Disclose the fee on receipts as well.
Online merchants must notify customers about credit card surcharges as well.
But these new surcharges won't take effect in every state. Because of existing state laws, you won't be seeing these added surcharges in California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma, or Texas.
And American Express users won't be seeing these surcharges, either, as they go against AmEx's own rules for merchants. Nor will debit card users, as the settlement applies only to credit cards.
Furthermore, many large retailers have indicated no plans to take advantage of these new rules. According to the New York Daily News, Walmart, Target, Sears and Home Depot have indicated that they have no plans to add the surcharge.
101ST ABN Div. (AirAssault) "Rendezvous With Destiny!" "Night Stalkers/Phoenix Flight" For Buddy...who lived it! Whiskey for my men and beer for my horses! H.A.L.O!, 5th Grp., MACV SOG, 160TH AVN SOG, Death From Above, VFW, AmLegion