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New York's new credit card surcharge mandate takes effect


hegemony
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  • 2 weeks later...

Impressive and reasonable measure.  However, I wonder how practical the provision is that requires posting of precise card surcharge, if it must match the fee charged by the processor.  We've discussed how "elite" cards have higher fees.

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Not the same, but it reminds me of a 3% surcharge I've seen going to Burger Lounge around L.A. It basically said it was for the high cost of doing business in the area. What? That should be part of the price. They did eventually stop this. 

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We just spent the last week in NYC. Some of the places we frequent were listing a flat 3% fee. These were merchants using Square or something similar. Those processors typically charge the merchant the same percentage, regardless of card and issuer.

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