Global Merchant Accounts Emporium
Mark Bond - Agent

Tuesday, July 17, 2012

Restaurant Merchant Processing Rates at Risk Under New Rules

restaurant merchant processing rates
Beginning soon, prices will be two % less on ScanMyPhotos.com. At the food chain Kroger, bosses are thinking about charging 2 prices for foodstuffs — a lower price when customers pay with cash, and a higher one when they pay with a credit or debit card. And at restaurants across the USA, owners are weighing the wisdom — or lack of it — of an extra charge on bills paid with plastic.

Businesses recently sifted through the repercussions of a multibillion-dollar pay out with the major credit card companies, and there was small consensus about how things would work out. The initial deal would empower merchants to offer discounts to clients paying with cash or checks, and to levy fees when they pay with plastic. Stores can also negotiate directly with Visa and MasterCard over the rates they pay for merchant processing.

"This settlement doesn’t solve all problems, and we would call on the card companies to look at this as an opportunity to change their long-term practices and start a new dialogue with their merchant customers,” and Executive said. This is ambiguous news for restaurant merchant processing rates.

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