[net.consumers] Credit Card Cost to Merchants

wildbill@ucbvax.UUCP (William J. Laubenheimer) (04/19/84)

It probably varies according to the card. The numbers for VISA and MC are
3%, i.e., if you charge $100 worth of merchandise, the local bank serving
as the clearinghouse will reimburse the merchant $97. I don't know if
there are any additional fees for such things as merchant imprint plates,
authorization fees, etc. Your best bet is probably to
find a friend who runs a small business accepting cards (this is how
I found out) and check with him/her.

                                        Bill Laubenheimer
----------------------------------------UC-Berkeley Computer Science
          ...Killjoy WAS here!          ucbvax!wildbill