> Maybe I'm just remembering badly, but I don't remember encountering this twenty years ago
replyMerchant agreements didn't allow surcharges until 2022: https://www.cbc.ca/news/credit-card-surcharge-faq-1.6610356
Because credit card companies mandated that you couldn't raise prices to pay their fees. Believe this was later outlawed in the US and perhaps elsewhere.
replyIt was part of the Obama administration's banking reforms, if I remember correctly. It outlawed credit-card issuers' prohibition on giving cash discounts.
replyIt also included a number of other valuable consumer protections, such as forcing card issuers to provide clear advance notice of interest-rate increases.
The financial-system reforms were some of the Obama administration's most valuable.
Imagine having a president who cares about unsexy policy wonk issues that make a huge difference to everyone. Feels like a distant memory these days.
replyin the US it was a class action lawsuit + Supreme Court decision
reply> Maybe I'm just remembering badly, but I don't remember encountering this twenty years ago; back then the rules were clear that you either didn't accept credit payments, or you did and it was the same price as cash
replyMy memory is in accordance with yours
But before that it was commonplace to see discounts for cash, especially at gas stations. Then credit-card issuers started prohibiting it in service agreements, but that was outlawed during the Obama administration.
replySmall business owners ("indies") are notorious for getting hung up on fees and costs which do not matter, while ignoring important savings and revenue sources. That's why they haven't grown to be bigger.
replyA sensible business owner increases the base price a little to offset card fees instead of bothering customers with these details and losing sales.
You obviously don't know any small-business owners and didn't read the article.
replyCredit-card issuers in the USA are a textbook example of a consumer- and retailer-harming monopoly.