XPost: rec.arts.sf.written, rec.arts.books   
   From: lcraver@home.ca   
      
   On Mon, 12 Aug 2013 13:23:24 +1000, "Rod Speed"   
    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,   
   >   
   >Its nothing like as high as that 7-8% here.   
      
   Didn't say bank charges were that high. What I said is that groceries   
   have historically made it on 1-2%, but some of the affinity VISA/MC   
   cards have fees in the 4-6 range which is where that 7-8% number came   
   from.   
      
   In other words, the bank is making more on groceries than the grocery   
   store itself is and by a considerable margin.   
      
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