Retailers point of view

gunsandbanjos

SuperHan wrote: »

Oh no.... Not a petrol station that accepts cash only. I hope you have legal signage to demonstrate this ;)

By legal, you mean printed on metal or plastic, not just a bit of paper right?

planteria

and as a consumer i pay by Amex wherever i can, and by Visa Creditcard wherever i can't. the cashback i generate is very tasty:T

jo-bo

SuperHan wrote: »

Oh no.... Not a petrol station that accepts cash only. I hope you have legal signage to demonstrate this ;)

I don't have a petrol station!!
Ps you're all missing the point, by insisting that you'll only shop where you can use your cashback/points credit cards, you might be missing on getting your products cheaper elsewhere. I get the section 75 cover but by throwing little hissy fits and saying I'll take my custom elsewhere you could actually be ripping yourself off

Ho hum.

jo-bo

planteria wrote: »

2 working days for Mastercard and Visa. the payments we have received on friday, saturday and today (sunday) will be in our account on tuesday. i think that's pretty good.

Just a quickie...why should I have to wait for my money?
I've given you a service and I'd like paying now!

redpete

antrobus wrote: »

Or the retailer could charge those customers paying by CC that extra 2.5%. Some do, after all.

Yes but that wouldn't "stop lining the pockets [of] parasitical bankers" which is one of the OP's objectives.

aleph_0

redpete wrote: »

Yes but that wouldn't "stop lining the pockets [of] parasitical bankers" which is one of the OP's objectives.

Depends how literally you interpret the OP. I understood the post more as complaining that a percentage of the purchase price goes to the card companies, rather than them. With a surcharge 100% of the advertised purchase price goes to them every time.

Surcharges do decrease the amount of credit card payments, too, since people will pay by a cheaper method to avoid the fees. The consumer choosing to pay a transparent fee doesn't seem very objectionable to me.

aleph_0

jo-bo wrote: »

I don't have a petrol station!!
Ps you're all missing the point, by insisting that you'll only shop where you can use your cashback/points credit cards, you might be missing on getting your products cheaper elsewhere. I get the section 75 cover but by throwing little hissy fits and saying I'll take my custom elsewhere you could actually be ripping yourself off

I believe the petrol station remarks are an reference to a 'fun' thread a while back, rather than serious suggestions.

Only one user has said that they'll shop elsewhere if they can't use their card. Even then, it has to be taken in the context of the OP starting the thread telling people what to do. I doubt that PeacefulWaters really avoids his local corner shop, or bakers, just because they don't take cards (at least I hope not!).

In general, with the likes of Aldi/Lidl/other stores, I'd say the British consumer has shown themself willing to choose a store that doesn't accept credit cards. Sadly, people aren't entirely rational, but hopefully there aren't many people who will buy a more expensive thing in order to get points worth less than the extra cost. I expect such people won't be lurking on this board, though.

chattychappy

aleph_0 wrote: »

In general, with the likes of Aldi/Lidl/other stores, I'd say the British consumer has shown themself willing to choose a store that doesn't accept credit cards. Sadly, people aren't entirely rational, but hopefully there aren't many people who will buy a more expensive thing in order to get points worth less than the extra cost. I expect such people won't be lurking on this board, though.

Interesting. For many years, the major supermarkets didn't accept credit cards whilst most other retailers did. I think people just accepted you paid by cash/cheque for your weekly shop. Back then many people would leave with a shopping list, stick to it, and have a pretty accurate idea of what they would spend. (I'm sure some still do.) I used CCs whenever I could, but I remember some people "saving" their CCs for big purchases or emergencies.

Perhaps supermarkets started accepting credit cards at the point at which people were more inclined to make impulse buys. Taking CCs would mean shoppers are more likely to buy a couple of bottles of booze or go for that bogof. Whilst the margins on the basics might be tight, fatter margins on the discretionary stuff supports credit cards.

I also remember that for a long time M&S and John Lewis held out against accepting visa/mastercard. Seems incredible now. They did have their own cards though. I remember popping into M&S in Hong Kong and buying a load of stuff when I realised they took CCs there. Then realised how stupid it was they didn't take them back in the UK.

I'm all for differential pricing - but if the pricing is the same I'll use CCs. In a few local restaurants I know well I'll offer cash if I have it. Times are hard and I would rather they collect all they charge.

bsms1147

Cash has a handling fee too.

Fruit_and_Nut_Case

bsms1147 wrote: »

Cash has a handling fee too.

Agreed. But (for clarity) are you talking about the cost of running a business bank account, the cost of extra security, or something else?