I am entering this discussion from a merchant account
owner's persepective. My company has accepted most of the
major credit cards going all the way back to 1990 or so.
First and foremost, I think it should be mentioned that
most merchant credit card accounts have language which
prohibits a company from accepting charges for another
company (or third party). This is done to protect both the
merchant and the credit card issuer from possible fraudulent
transactions by a third party. This also prevents some
less than credit worthy operations - such as Escort Services
and Internet Porn Sites - from using someone's merchant
account for possibly illegal transactions.
I might also add that most merchant agreements DO NOT
allow a company to offer goods or services at a higher
price just because it is being charged to a credit card.
In fact, I have told more than one merchant that I would
report them to Visa International or Mastercard unless they
charged me the "cash" price for a purchase. One outfit -
a brokerage firm that sells broadcast equipment - thought
they could get away with it. WRONG!!!
They not only wound up almost losing their account with
Mastercard, but sent me back my 3% "fee" with a letter
of appology. Maybe you might think about that last item
when some turkey tells you they are going to charge you an
extra 3 or 4% to use your credit card.
Quite frankly, it would not bother me a bit to see
PayPal go under as a result of Mastercard's decision. There
is WAY TOO MUCH fraud on the internet right now - and you
as a credit card holder are payaing for it with higher
interest rates and fees.
owner's persepective. My company has accepted most of the
major credit cards going all the way back to 1990 or so.
First and foremost, I think it should be mentioned that
most merchant credit card accounts have language which
prohibits a company from accepting charges for another
company (or third party). This is done to protect both the
merchant and the credit card issuer from possible fraudulent
transactions by a third party. This also prevents some
less than credit worthy operations - such as Escort Services
and Internet Porn Sites - from using someone's merchant
account for possibly illegal transactions.
I might also add that most merchant agreements DO NOT
allow a company to offer goods or services at a higher
price just because it is being charged to a credit card.
In fact, I have told more than one merchant that I would
report them to Visa International or Mastercard unless they
charged me the "cash" price for a purchase. One outfit -
a brokerage firm that sells broadcast equipment - thought
they could get away with it. WRONG!!!
They not only wound up almost losing their account with
Mastercard, but sent me back my 3% "fee" with a letter
of appology. Maybe you might think about that last item
when some turkey tells you they are going to charge you an
extra 3 or 4% to use your credit card.
Quite frankly, it would not bother me a bit to see
PayPal go under as a result of Mastercard's decision. There
is WAY TOO MUCH fraud on the internet right now - and you
as a credit card holder are payaing for it with higher
interest rates and fees.