Will Consumers Accept Surcharges on Credit Card Purchases?
It’s not uncommon to find gas stations offering consumers a lower price when they pay cash to fill up their cars. But, now that all retailers have the option of adding a surcharge to credit card purchases, will any major retailers actually do it?
According to a Bloomberg News report last week, Macy’s, Sears, Target and Walmart have all ruled out adding fees to MasterCard and Visa charges.
Randy Hargrove, a spokesperson for Walmart, told Bloomberg, "The proposed modification to the no-surcharging rule for Visa and MasterCard provides no benefit to customers or merchants such as Walmart."
MLive.com confirmed that Meijer will also forego adding fees to purchases made with credit cards.
One major chain that is still evaluating whether to add a surcharge for credit card purchases is Kroger. The company’s CEO David Dillon, according to Bloomberg, said the grocery store operator would study its options to determine if fees would add "transparency" to the process while improving efficiency.
- Chains May Avoid Surcharges on Credit-Card Purchases – Bloomberg News
- Meijer latest retailer promising ‘no surcharges’ on credit card purchases – MLive.com
Do you expect retailers to begin adding surcharges for credit card transactions? How do you think consumers will react if they do?