XPost: rec.arts.sf.written, rec.arts.books   
   From: jclarkeusenet@cox.net   
      
   In article <3ssu09tcc3ajo4etat31qulpp7bkjbfal6@4ax.com>, lcraver@home.ca   
   says...   
   >   
   > On Mon, 12 Aug 2013 10:05:24 +0800, Robert Bannister   
   >  wrote:   
   >   
   > >> Now a merchant who doesn't cover all his costs is out of business so   
   > >> you know where those costs get passed along to.... in grocery stores   
   > >> they used to work on a 1-2% margin because they were getting 'the   
   > >> turns' but these days it's 7-8% mostly to cover card costs.   
   > >>   
   > >   
   > >I don't know how much shop keepers get ripped off by the banks here, but   
   > >I know that if they didn't accept transactions from saving accounts as   
   > >well as from cheque accounts and credit, they would soon be out of   
   > >business. Customers expect to be able to pay the way they wish and will   
   > >quickly go elsewhere.   
   >   
   > Well that's fine BUT again a merchant who doesn't cover their costs is   
   > out of business and payment processing is a major element of their   
   > costs.   
   >   
   > I'm not contradicting what you're saying - but don't assume the   
   > banking system is 'free' as it makes quite a serious impact on the   
   > bottom line. This is particularly serious in the grocery business   
   > where margins are smaller and their 'turns' are higher.   
   >   
   > My understanding is that debit costs are lower in Canada than the US   
   > and VISA/MC charges are lower in the US.   
      
   FWIW, Aldi, which makes a great show of frugality (they rent you   
   shopping carts for 25 cents for example to make sure you return them to   
   the proper place thus saving them the cost of a cart collector) will   
   take debit cards but not credit cards in the US, which suggests that   
   debit fees are less than credit fees.   
      
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