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Old 01-30-2013, 04:13 PM   #61
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Originally Posted by Texas Proud View Post
This is just a WAG, but I think the merchant can go by his local law... can't force him to follow every state law...
If it is anything like sales tax, then they have to follow your local state law if they have a presence in your state, otherwise they only have to follow their own local state law. (I wonder if they'll start pursuing reciprocal agreements.)
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Old 01-30-2013, 04:46 PM   #62
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Originally Posted by Texas Proud View Post
I was just thinking about the time saving for the merchant when I went to lunch... was at Chipolte and the line was moving at a good clip with everybody paying with a card... then someone pulled out cash... and it took at least 2X and probably closer to 4X the time to check him out... that would back up the line big time for a place that needs quick volume like a fast food place...

Not so much for a small mom and pop who might only get a few customers every hour...
I think someone mentioned the gas stations upthread. Who wants to pay cash for gas? You have to go in, wait in line, slap a benjamin down on your pump, walk back outside, pump your gas, go back inside, wait in line, get your change and walk back out to your car. Either that or your gas gauge is so accurate you can actually calculate how much gas you will need or you are satisfied driving away with a partially filled tank. Any gas station that asks for cash, I just keeping on going to the next place, which probably has the same price and takes my credit card.
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Old 01-30-2013, 04:47 PM   #63
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Originally Posted by bUU View Post
If it is anything like sales tax, then they have to follow your local state law if they have a presence in your state, otherwise they only have to follow their own local state law. (I wonder if they'll start pursuing reciprocal agreements.)
I agree... but that was not how I read the question...

It was if the company was in the 40 states that do not prevent it doing business with someone in a state that does... if they have presence in the state that prevents it, then I would not place them in the 40 states...
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Old 01-30-2013, 05:26 PM   #64
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Originally Posted by ronocnikral View Post
I think someone mentioned the gas stations upthread. Who wants to pay cash for gas? You have to go in, wait in line, slap a benjamin down on your pump, walk back outside, pump your gas, go back inside, wait in line, get your change and walk back out to your car. Either that or your gas gauge is so accurate you can actually calculate how much gas you will need or you are satisfied driving away with a partially filled tank. Any gas station that asks for cash, I just keeping on going to the next place, which probably has the same price and takes my credit card.
I have always paid cash for gas. At my local station, there is now a discount for cash. Also, because I am a regular customer, I can pump first then pay inside so I can fillerup or not as I so choose.
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Old 01-30-2013, 05:32 PM   #65
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Does it mean we won't have to pay the annual fees for the privilege of using our cards? I guess the answer is no...
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Originally Posted by marc515
Heard on the news last night that merchants can now charge consumers up to 4% credit card fees.
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Old 01-30-2013, 05:36 PM   #66
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Originally Posted by ronocnikral View Post
Who wants to pay cash for gas? You have to go in, wait in line, slap a benjamin down on your pump, walk back outside, pump your gas, go back inside, wait in line, get your change and walk back out to your car.
I think this is a major reason a gas/convenience store owner would offer a discount for cash--to get people to go inside, see the gum, cigarettes, and magazines, smell the coffee brewing, etc. All those things are high markup items. I'll bet these stores lose a lot of impulse-purchase sales when folks pay at the pump. I haven't seen many pumps that accept currency, and I think that's why.
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Old 01-30-2013, 05:45 PM   #67
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re gas - at least here in cantral California the price is same for cash or debit card. only c/card is higher.

cash = pump price.

Debit = pump price + flat 45 cent debit fee (I suppose to ME that is the price to not have to go into store, stand in line to give deposit, go pump, then go BACK to stand in line for change)

C/card = an extra 10-12 cents per gallon.

OR if I am in the nearby town (12-15 miles away) go to Costco, price is 2-5 cents less and no debit fee (which is another penny and a half for my truck when it is empty)
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Old 01-30-2013, 06:23 PM   #68
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Originally Posted by Texas Proud View Post
I was just thinking about the time saving for the merchant when I went to lunch... was at Chipolte and the line was moving at a good clip with everybody paying with a card... then someone pulled out cash... and it took at least 2X and probably closer to 4X the time to check him out... that would back up the line big time for a place that needs quick volume like a fast food place...

Not so much for a small mom and pop who might only get a few customers every hour...

To give an example from the Navy on the cost of cash. It used to be that a medium sized ship had 5 or 6 positions involved in the handling of cash. They went to smart cards and those positions vanished (the tasks at least no necessarily the people as there were other jobs to do). If you think about it in the referenced article if your a cash mostly business security is a big issue, and you are a member of the candidates for armed robbery club. Consider that at the end of the day, the cashier has to count the till, then someone else has to count the till (likley in this case with a currency counting and coin counting machine). Then the totals have to be reconciled, the cash has to then be put into a bank or other safe location. All this costs time and money for the store. I have not found a study that compares the cost of cash to credit cards to a merchant. Note that the merchant also gets a nice accounting record every day of the amount of sales, as well as monthly. All these features provide some advantages, however since you need to take cash some still has to be handled.

A web based merchant would be cutting its throat by not taking credit cards, as with checks it would have to wait for the check to clear before shipping.
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Old 01-31-2013, 03:40 PM   #69
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Quote:
Originally Posted by ronocnikral View Post
...... Who wants to pay cash for gas? You have to go in, wait in line, slap a benjamin down on your pump, walk back outside, pump your gas, go back inside, wait in line, get your change and walk back out to your car. Either that or your gas gauge is so accurate you can actually calculate how much gas you will need or you are satisfied driving away with a partially filled tank.....
I agree 100%. The problem here is that all gas stations now have cash vs cc prices, you can't buy gas in this state w/o dealing with this nonsense.

Say gas is $3.72 a gallon for cc and 6-7 cents less for cash. My cc gives me 2% back on gas purchases so I am still paying the cash price using the cc with that cash back program. No way am I going through the rigamarole ronocnikral accurately describes above except he forgot to add the part about the idiots smoking inside and how I have to eat their smoke. I'm pretty frugal but this is one case where cash is trash to me.
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Old 01-31-2013, 04:04 PM   #70
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This varies a lot depending on the retailer. I shop mostly at Target and Cub by my house. Paying by credit card at Target is super fast, at Cub not so much.

Whether the retailer requires signatures for small purchases makes a difference as well.

Quote:
Originally Posted by Texas Proud View Post
I was just thinking about the time saving for the merchant when I went to lunch... was at Chipolte and the line was moving at a good clip with everybody paying with a card... then someone pulled out cash... and it took at least 2X and probably closer to 4X the time to check him out... that would back up the line big time for a place that needs quick volume like a fast food place...

Not so much for a small mom and pop who might only get a few customers every hour...
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