Comments on: Visa® & MasterCard® Rules and Regulations http://blog.merchantwarehouse.com/visa-mastercard-rules/ Merchant Services Information from Merchant Warehouse Tue, 20 Jan 2009 15:52:54 -0500 http://wordpress.org/?v=2.8.5.2 hourly 1 By: BETH http://blog.merchantwarehouse.com/visa-mastercard-rules/comment-page-1/#comment-1369 BETH Tue, 20 Jan 2009 15:52:54 +0000 http://blog.merchantwarehouse.com/visa-mastercard-rules/#comment-1369 WE OWN A SMALL GROCERY STORE AND GAS STATION IN A RURAL AREA. I DON'T UNDERSTAND HOW VISA/MASTERCARD CAN CHARGE US TO ACCEPT CREDIT AND DEBIT CARDS BUT NOT ALLOW US TO CHARGE OUR CUSTOMERS A FEE. WITH THE GASOLINE BUSINESS OF TODAY, THE PROFITS AVERAGE FROM .02 TO .06 PER GALLON. IF A CUSTOMER PAYS WITH A CREDIT OR DEBIT CARD, WE LOSE MONEY ON THAT SALE. THE PROCESSING COMPANIES SOLUTION TO THIS IS TO JUST RAISE THE PRICE OF GAS. OF COURSE, WE CAN'T DO THAT. WITH COMPETING STORES IN THE AREA, WE WOULD LOSE OUR BUSINESS. VISA/MASTERCARD CHARGE PEOPLE TO USE A CREDIT CARD AND CHARGE MERCHANTS TO ACCEPT THEM. WE WANTED TO CHARGE A 3% CHARGE ON ALL SALES PAID WITH A CREDIT OR DEBIT CARD. THIS WOULD ALMOST COVER OUR EXPENSES JUST TO ACCEPT THE CARDS. BUT THAT'S AGAINST THEIR REGULATIONS. CAN SOMEONE PLEASE EXPLAIN THIS TO ME. WE OWN A SMALL GROCERY STORE AND GAS STATION IN A RURAL AREA. I DON’T UNDERSTAND HOW VISA/MASTERCARD CAN CHARGE US TO ACCEPT CREDIT AND DEBIT CARDS BUT NOT ALLOW US TO CHARGE OUR CUSTOMERS A FEE. WITH THE GASOLINE BUSINESS OF TODAY, THE PROFITS AVERAGE FROM .02 TO .06 PER GALLON. IF A CUSTOMER PAYS WITH A CREDIT OR DEBIT CARD, WE LOSE MONEY ON THAT SALE. THE PROCESSING COMPANIES SOLUTION TO THIS IS TO JUST RAISE THE PRICE OF GAS. OF COURSE, WE CAN’T DO THAT. WITH COMPETING STORES IN THE AREA, WE WOULD LOSE OUR BUSINESS.

VISA/MASTERCARD CHARGE PEOPLE TO USE A CREDIT CARD AND CHARGE MERCHANTS TO ACCEPT THEM. WE WANTED TO CHARGE A 3% CHARGE ON ALL SALES PAID WITH A CREDIT OR DEBIT CARD. THIS WOULD ALMOST COVER OUR EXPENSES JUST TO ACCEPT THE CARDS. BUT THAT’S AGAINST THEIR REGULATIONS. CAN SOMEONE PLEASE EXPLAIN THIS TO ME.

]]> By: Samantha http://blog.merchantwarehouse.com/visa-mastercard-rules/comment-page-1/#comment-960 Samantha Fri, 21 Nov 2008 17:58:38 +0000 http://blog.merchantwarehouse.com/visa-mastercard-rules/#comment-960 Can you advise me if it is true and correct that Mastercard and Visa tells you what you can bill for and accept as payment, such as in my trade I have to pay taxes, license fees and so forth for companies, they in turn are billed on my invoice. I submitted a clients card for payment, it was approved thru the issuing bank. My processor required proof of invoices in which I faxed to them. They denied payment. Can I say for a small business, I had already incurred $6000 in payout fees that I was being reimbursed for from my client. Can this company truly do this and be within their financial obligations and guidelines? Can you advise me if it is true and correct that Mastercard and Visa tells you what you can bill for and accept as payment, such as in my trade I have to pay taxes, license fees and so forth for companies, they in turn are billed on my invoice. I submitted a clients card for payment, it was approved thru the issuing bank. My processor required proof of invoices in which I faxed to them. They denied payment. Can I say for a small business, I had already incurred $6000 in payout fees that I was being reimbursed for from my client. Can this company truly do this and be within their financial obligations and guidelines?

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