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Forums › Finance and wealth management › Market stall enforces minimum EFTPOS spend of $30?
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concordnz
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  #2511302 24-Jun-2020 10:08
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clinty:

Nate001:


My partner reckons the stall is trying to pocket the cash off the books, but I'd like to think not and the lady was simply confused/uneducated of fees.



I am wondering if it is just a case of too many people saying  "yep i am paying with EFTPOS" then pushing the CR button ( a lot of people having combined CC/EFTPOS cards )


As discussed the fees on Credit transaction can make it not worth it when under $30, so just easier for the Vendor to say no electronic transactions under $30. Also has the added effect of upselling the customer to a higher spend


 


Clint



That's probably the precise reason's (including up-sell).

But people here seem to jump to the conclusion somthing is sinister - way too fast....



BlinkyBill
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  #2511322 24-Jun-2020 10:51
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Kyanar:

 

The actual statement that BlinkyBill made was that "it's their business, they can do what they want". But this is factually incorrect (and sounds way too "free market" "invisible hand" to me), there are dozens of limitations on how a business can conduct itself - those laws being the least of them...

 

 

My statement is factually correct. In my business I don't accept cash or credit card payments. I set the terms of trade for payment and customers accept those, or they don't. I also decline to trade with some customers who want me to trade with them.

 

My statement is limited to the context of the subject, and not to regulations affecting other aspects of offering goods and services.

 

Happy to be corrected if you can provide a factual reference.

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