• ForgotAboutDre@lemmy.world
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    2 months ago

    The same price must be charged for products purchased with credit card or cash. Otherwise the card provider will withdraw their service from the retailer. So the credit card margin is added to every price.

    • Midnight Wolf@lemmy.world
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      2 months ago

      card provider will withdraw

      Dubious, as I regularly see gas stations with separate cash vs card prices. I’ve seen small businesses offer discounts for cash, too. And it’s not like visa is going to stop processing cards because walmart started offering cash prices. It’s just scare tactics. And for big companies, people who pay in cash offer bigger profit margins, so it’s not like they are incentivized to help the situation.

      • keckbug@lemmy.world
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        2 months ago

        Actually true, but outdated. There was a massive decade long $30b legal fight that eliminated credit card network’s “anti-steering” provisions. Those were contractual terms that retailers signed that prohibited them from offering different prices for cash and card. Some retailers have responded by offering different prices, or otherwise adding a processing fee to card transactions as a result of that settlement.