XPost: rec.arts.sf.written, rec.arts.books
From: rod.speed.aaa@gmail.com
"The Horny Goat" wrote in message
news:3ssu09tcc3ajo4etat31qulpp7bkjbfal6@4ax.com...
> 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
Yes.
> and payment processing is a major element of their costs.
No, and none of the electronic payment alternatives
cost the business as much as doing the transaction
with cash with all those cash handling costs involved.
> 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.
Not really, even when its an entirely cash based system.
> This is particularly serious in the grocery business
> where margins are smaller and their 'turns' are higher.
But they have always had to deal with the cost of handling cash.
Its just not as visible per transaction.
> My understanding is that debit costs are lower in Canada
> than the US and VISA/MC charges are lower in the US.
--- SoupGate-Win32 v1.05
* Origin: you cannot sedate... all the things you hate (1:229/2)
|
