How much are stores charged to accept credit and debit cards?

Pharmer

I hope this is the right place for this...

I'm wanting to make a purchase of a lovely £400 kilt and intend to haggle my bottom off to get it. I like to haggle it down as much as possible and then when I go to pay for it I like to ask if they'll lower the price further for cash in hand.

My question is, how much would the store have to pay the credit card company or card running service ordinarily so that I can push this value at them rather than just asking for a little less.

Many thanks!

daveybea

it will only be pennies...yrs back when i worked in woolies they would charge us 50p if we had to input all the numbers on the card (obv before chip n pin!) and tbh companies would rather have cards cos its easier to accept n they dont have to "bank" cash!..less time n effort with cards im afraid! hope this helps

newyearnewme_2

I used to work for Alliance & Leicester Commercial Bank and each business is charged different prices depending on how much the terminal is used and the average purchase ie Woolworths high volume smallish purchases as opposed to a sofa chain small volume high value purchases so it is impossible to say however debit card transactions are normally charged at a flat fee and credit cards as a % of the total sale

viclspence

it depends on how much they put through their pdq machine, we have one in our office and get charged 1.5% for debit cards and 3% for credit cards but we only put through about £500 a month

jenniewb

My mum is a weightwatchers leader and uses a card machine for her group. Weightwatchers gets charged a flat fee for each transaction, to the oint where they lose large percentage/all of their profit if its below £5 so this sets the minimum, after which they don't worry about any loss.

I doubt very much you'd get anywhere using this as a pmain point to haggle from, I used to work as a sales assistant and we'd have a field day laughing when we got people trying to haggle by saying "oh but I'll pay you in cash...now can I have an additional 50% off..?" (we were young and bored, stuff like that gave us something to talk about)

McKneff

Dont forget, also that the company also has to pay for the telephone line rental for these card machines and also the rental ofthe actual machine.
They are not cheap and lots of people dont realise this.

Begize

The decoratring shop where my Mum used to work was charged 2.5% per transaction but would only accept cards on transactions over a certain amount.

They would also offer this as a discount to anyone who paid by cash.

TehJumpingJawa

...hence the reason why banks have (a lot) more money than sense!
Skimming 2.5% off the top of all store transactions!

Anyone would think computerized systems were labour intensive...

littlemissbossy

Where I work (we use Barclaycard) its .55p per item for debit cards and 1.95% for credit cards.

HTH