[Novalug] Way OT: Re: Credit -- was Virtual Box or KVM

Rich Goodwin Rich.Goodwin@cox.net
Sat Dec 25 17:30:56 EST 2010


Since there is a surcharge on the purchase, that makes sense.  If the
merchant pays 2-3% (I believe that is the MC/VISA fee rate; 3-4% is
AMEX), there is a practical minimum fro which the merchant can be
liable.  $0.01 hardly seems worth the work to sell as a merchant but
VISA/MC multiply this by millions and it IS worth it to them.

Rich

On Thu, 2010-12-23 at 17:34 -0500, John Franklin wrote:

> That is true, but I believe the recent credit card reform law requires CC companies to allow merchants to set minimum charge amounts.
> 
> jf
> 
> On Dec 23, 2010, at 4:44 PM, James Ewing Cottrell 3rd wrote:
> 
> > Perhaps it wasn't clear what I meant.
> > 
> > MC/Visa prohibit a Merchant from setting Minimal Amounts on credit card purchases.
> > 
> > Thus, if you want to charge a 5 cent piece of candy, the merchant can't stop you.
> > 
> > What you are talking about is the recent practice of not requiring signatures for charges less than a certain amount.
> > 
> > JIM
> > 
> > On 12/23/2010 3:53 PM, Jason Kohles wrote:
> >> It's neither illegal nor prohibited.
> >> 
> >> Visa and MasterCard both have optional programs that allow stores to not
> >> require signatures for small purchases.
> >> 
> >> Visa's program is called "No Signature Required" and allows retailers to
> >> skip requiring signatures for charges under $25.  It has been around in
> >> limited form since 2003, but was made more widely available in March.
> >> 
> >> MasterCard's is called "Quick Payment Service Program", has a cutoff that
> >> varies from $15 to $50 depending on the merchant, and has been around
> >> since 1991.
> >> 
> >> _________________________________________________________
> >> Jason Kohles, RHCA 
> >> Palantir Technologies | Unix Systems Engineer
> >> 
> >> jkohles@palantir.com
> >>  | 703.957.5784
> >> _________________________________________________________
> >> 
> >> 
> >> 
> >> 
> >> 
> >> 
> >> On 12/23/10 3:18 PM, "James Ewing Cottrell 3rd" 
> >> <JECottrell3@Comcast.NET>
> >> 
> >> wrote:
> >> 
> >> 
> >>>  On 12/23/2010 2:00 PM, Bonnie Dalzell wrote:
> >>> 
> >>>> I have noticed a number of supermarket checkouts and places like Panera
> >>>> are no longer having you sign for charges under $20. The charge is just
> >>>> accepted after the card is swiped. Maybe this is why the small charges,
> >>>> not as likely to be challenged.
> >>>> 
> >>> Right, because this is technically illegal, at least in the sense as
> >>> being prohibited by MC/Visa agreements.
> >>> 
> >>> Whenever I mentioned this, the merchants always caved, but the sign does
> >>> deter people from asking to do it.
> >>> 
> >>> JIM
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