NEW YORK—Legal obstacles to surcharges on credit card transactions have been dropping for much of the past decade as courts continue to rule that the surcharges are permissible, Pymnts.com reported.
“This is good news for merchants looking to increase their income by a few percentage points and cover their card processing costs, but other obstacles remain, including consumers’ aversion to paying surcharges,” Pymnts.com said.
Pymnts.com reported its analysis of recent data found that most consumers, when faced with a surcharge at the point of sale, will tend to pay it with relatively “minor damage” to their satisfaction with the merchant.
“Despite the opposition most cardholders express toward surcharges, 85% of credit card users pay these fees when facing them. Cardholders in that situation find another payment method just 14% of the time and will leave the store only in rare instances,”Pymnts.com stated. “Our data indicates that merchants will need the right approach to reap the benefits from surcharges without compelling customers to switch their business to other merchants.”
Has Everyone But You Heard the News?
Don’t forget to check your Spam/Junk email folder if you haven’t been receiving your free, popular and daily CUToday.info news headlines.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com.