17 Dec 2023 7:08 pm
Alot of businesses in my area are going cash only.RedheadedStranger » 17 Dec 2023, 8:06 pm » wrote: ↑ I always understood it to be a processing fee per transaction that was based on the amount of said transaction... charged back to the merchant.
At one time the lower transactions were a flat fee, which is why some merchants had a "minimum" transaction amount if you were using a card because the transaction fee would end up costing the merchant more than they were making off the sale of it was too small.
It's basically another tax on the businesses.