I don’t have self control so a $10 minimum would Be farthest from my problem. All the other stuff is my issue
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Years ago, when imposing a minimum credit card purchase was not allowed, I had the following exchange:
Me: I’d like to order a second beer.
Bartender: Sorry, we’ve already called last call.
Me: Okay, I’ll just close out my tab then. Here’s my credit card.
Bartender: You’ve only have the one beer, and we have a ten dollar minimum for credit card purchases.
Me: Cool, I’ll have that second beer then.
Bartender: But we’ve called last call.
Me: ….
Me: Listen, you can pour me a second beer and I’ll meet your minimum. Or you can ring me up for the one I had. Your choice. The alternative is I just leave.
They rang me up for one.
Am I too European to understand this? This minimum shit is stupid and should be illegal
Visa and Mastercard are horrible companies. For smaller businesses.
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If your transaction numbers are low they charge a flat + percentage So like 0.55 EUR + 1.2%. Stores in this tier generally try and keep a minimum spend, because you buy 1 EUR and mastercard charges 56c. From 44c you have to pay for product and make a profit. It's stupid.
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You can opt for plans that don't have flat fee, so it's like 2.25% percentage only. Useful if you move a lot of small value items like a small convinience store.
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But if you're a chain of convinience like SPAR, they can get custom deals. SPAR had a tiered deal, transactions below 1 EUR, they charge 0.4%, below 4 EUR it was 0.9%, below 10 EUR 1.5% and, above 1.9% This would never be possible for smaller shops.
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Every transaction enriches some foreign country as they take the cut. Homegrown system like wero should be dominant, cheap and stays in local economy.
Also I'd like to note, I've been out of touch of Europe for a while so my opinions and knowledge might be dated, but this is solved problem in ASIA, PayNow, Prompt Pay, UPI etc exist and are fantastic solutions for small businesses.
It isn’t illegal, but it’s against the TOS for every major cc company. If you see this shit you should report it.
$10 is the amount generally outlined as the acceptable minimum. What information are you relying on? Can you provide a source for that?
Visa/Mastercard rules say that you can't refuse to accept payment with credit cards if you accept them in general. They are pretty adamant about that rule and even have secret shoppers to confirm such cases. The 10$ minimum is only allowed in the US and territories, the rest of the world does not have this exception (https://www.visa.com/en-us/support/visa-rules#6153bdb1)
The post is in English and using $ specifically, so I'm unsure why they said it's against TOS. I get that the commenter was European, but they were basically asking if this was a legit thing that they didn't know because they aren't from here. They didn't ask "is this true in Europe", so I feel like it's misleading to suggest it's against TOS unless you're specifically suggesting "for Europe it's against TOS but it's fine in the US".
It’s against the credit card company tos because the credit card companies want to force small businesses to lose money on small transactions or not have the option to take cards.
So ratting to Visa helps Visa and hurts the small business. Great job! With friends like you who needs enemies! Just bring fucking cash ffs.
? I encounter this in Europe regularly.
There are european countries that have made the practice illegal.
There are countries that said you should always, without extra costs, allow digital payment.
Funny enough, they bypassed cards then and went for things like payconiq, wero, apple pay, google wallet, ... to bypass the costs of card readers haha
Indeed it is in most of Europe, I think.
I did buy something in a takeaway a few years ago and it was like 20p below the minimum, and I just went "charge 20p extra then" and it seemed to break the other customers minds. Never occurred to them you can do that, rather than asking for an extra £2 of stuff you don't want...
Nothing to do with being European. I see this occasionally at small businesses here in Austria, such as tobacco stores.
Just a heads up, you should probably fix your title before someone makes a shota joke.
Shot glasses are usually pretty small and peanut m&ms are relatively large, $1 for what probably amounts to ~6 m&ms sounds like a rip off.
bars are a ripoff. $4 a drink during happy hour, for the cost of one good evening I can just buy a bottle and drink for a week.
You're not paying for the booze, you're paying for space and time in that spot. It's so expensive to keep the doors open. All the licencing and insurance. Wages, rent. It all adds up so quickly. I worked at a modest sized place for a few years and got to know the business side of it. It was at least 7k a week through the till to break even.
Edit: to all the bar haters out there; find a spot without TVs or blaring music. You may be surprised by how nice it can be just chilling and having some drinks. So many bars are just sensory overload. A nice quiet drinking hole is worth its weight in gold.
I wish a bottle lasted me a whole week
Buy olive oil.
Make mine a double!
chocolate all over face, slurring from insanely high blood sugar I'll tell you when I've had enough
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