Quote:
Originally Posted by Brad Murphy
My brother works for a credit card processor... and according to him, credit card transations typically cost the vendor several cents each (I'm thinking like .30 or .40 if I remember correctly)... this is why that may places, especially small mom and pop shops do not like to take credit cards for less than a certain amount (ie $5.00 minimum purchase for credit card transations).. this ensures that they are making enough profit to cover the cost of the credit card transaction. YOU are only paying .01 cents... but the vendor may end up paying $.30 to make the .01
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Well, they better
hope that not
everyone (6.7 billion people) signs up!
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