New York’s new credit card surcharge law is in effect: Here’s what it means for customers and businesse

NY Post ^ | 02/12/2024 | Vaughn Golden and Emily Cra

[ChicagoConservative27]

Thoughts concerns?

[Jamestown1630]

It sounds like a good idea, to me. I don’t see a downside to people knowing where all the charges are coming from.

[Jonty30]

It’s good to know about hidden charges. However, in reality, this about seeming to do something than actually doing something to make New York a better city.

[God luvs America]

This has been going on for a while where i live in NY- the local bagel shop and Italian restaurant have signs that its a 3% “discount” if you pay with cash- which is really BS- they are just passing the CC charge onto the consumer.

Considering the move to currencies that can be traced, thank goodness there are businesses advocating for good old cash.

[Robert DeLong]

It means time to leave, but do not come here.

[God luvs America]

this is all of NY, not just NYchitty.

[ComputerGuy]

Because the people who actually own the damn cards are too stupid to know.

[EEGator]

I should have become a banker.

[Reno89519]

Good idea.

[dfwgator]

If they don’t read their credit card statements, outside of knowing what the minimum monthly payment is, why will they read this?

[NorthMountain]

I have seen this in many places, both in America and elsewhere. I’m a fan ... and I don’t care that the sponsor in this case is a democrat. Transparency is a good thing; we need more of it.

[Reno89519]

So, you don’t use debit and credit cards? All cash?

[unclebankster]

Thoughts concerns?

************
Not really.

If a merchant is going to gouge me for using a credit card.( Usually a small convenience store)

I use cash or “eat the fee” on credit, if I really want the purchase.

[Revel]

It is pretty rare to run into businesses that charge more for credit card purchases. Sometime Gas stations do. But they list a cash and credit price if they do. The only other place I noticed that charges more is the government. Try paying your taxes with a credit card and there is a surcharge.

[Jamestown1630]

The article states that the customer has to be informed BEFORE checking out; and I assume that the breakdown will also be on the printed receipt.

[ifinnegan]

It seems New York did something not insane.

Maybe there’s a catch.

[ComputerGuy]

So, you don’t use debit and credit cards? All cash?
I neither said nor implied that.

[1Old Pro]

One would think that government would incentivize using cards over cash, instead of the opposite. That way they can better track your transactions.

[Red Badger]

Willie Sutton agrees....................

[monkeyshine]

I don’t get it. I think most businesses just include the 3.5% merchant fee into their markup. So I’m not sure what the problem is. Just display one price and use that price for all for forms of payment. People may quietly negotiate down a cash price I suppose when possible.

How about putting the total price including sales tax on the sticker?