Debit is cash but his is tiny legislation with tiny upside from a legislator desperate to make an impact now that his job with wind turbines has vaporized!
Well intentioned bill. One question. What protections, if any, are in place to prevent gas stations from raising all prices to the higher credit price? Cash discounts eliminate debit and credit fees that are passed on to the consumer.
If businesses wish to retain their current profit margin it will put an upward pressure on cash prices and cost cash consumers.
Marcus is heading in the right direction looking to ease the pain at the pump. The misconception is that the retailer is making money by charging extra for cards, even debit cards carry a processing fee. Go after those making the lion’s share of the money. In most cases it is the distributor causing the high retail prices while the branded dealer is locked into a contract making only pennies a gallon and paying all fees. As you know Marcus I have close to 40 years retail fuel sales experience and I never charged extra for cards. Call me Marcus, you have my number. I can tell you all you need to know about this.
Debit is cash but his is tiny legislation with tiny upside from a legislator desperate to make an impact now that his job with wind turbines has vaporized!
Well intentioned bill. One question. What protections, if any, are in place to prevent gas stations from raising all prices to the higher credit price? Cash discounts eliminate debit and credit fees that are passed on to the consumer.
If businesses wish to retain their current profit margin it will put an upward pressure on cash prices and cost cash consumers.
Intentions don’t count, impact does!
Marcus is heading in the right direction looking to ease the pain at the pump. The misconception is that the retailer is making money by charging extra for cards, even debit cards carry a processing fee. Go after those making the lion’s share of the money. In most cases it is the distributor causing the high retail prices while the branded dealer is locked into a contract making only pennies a gallon and paying all fees. As you know Marcus I have close to 40 years retail fuel sales experience and I never charged extra for cards. Call me Marcus, you have my number. I can tell you all you need to know about this.