Lightflyer1
Top Post Dawg
Not accepting credit sets you up for robbery and theft and puts your employees life more in danger. Anywhere there is cash on hand and lots of it robbery is soon to follow. Many companies went the credit route just to stop handling cash. Not to mention you have to have special arrangements to get the cash to the bank.I think what you are calling a "premium" is the station's charge to recover the Interchange Fee(s) they are charged by the card issuers to process credit and debit card transactions. It is these recovery fees that make up the difference between the lower "cash" prices and the higher "credit/debit" prices. The stations around here Oroville pretty much charge the same price whether payment is cash or card, so basically we cash users are subsidizing the card users. BTW, by refusing to accept credit cards, ARCO doesn't have to pay any credit interchange fees so it can keep its fuel prices low (however they do charge a flat 35¢ "convenience" fee/transaction to cover debit card interchange fees). Credit card interchange fees average 2% per transaction.