Many mom & pop businesses are losing sales because their price schedules can not support credit card handling expenses. They would profit if the card companies would permit passing those expenses directly onto customers who pay with plastic.
All purchasers not paying with plastic are paying for credit card expenses “baked” into price schedules. If plastic handling were an additional expense to the purchaser, many, (possibly most) purchasers would prefer to pay by cash or check. Those purchasers are paying for additional baked in service that is not to their preference. Credit card companies are maximizing their own profits by prohibiting their retail clients from passing the card expenses on to the client’s customers that demand those services.
Purchasers who actually prefer to pay by credit card are actually being under-billed. Rather than directly billing only those purchasers for the additional service that demand, it is treated as an overhead expenses spread among all of the purchasers. This effectively raises the prices of most goods and services sold in the USA.
I advocate state governments recognize and prohibit what is a restraint of trade and exercise their jurisdictional power. Financial institutions speak of plastic purchasing bolstering effect upon our economy but seldom mention the social and economic harm due to this too often unnecessary and less preferred personal debt.
The regulation of financial corporate practices is among the very few areas where it’s both feasible and legal for states to improve their own economy The failures of state governments to properly do so are generally due to their' indifference, incompetence and general corruption. I regret that states enable credit card companies to maximize their profits by increasing the prices of almost everything we purchase.
Respectfully, Supposn
All purchasers not paying with plastic are paying for credit card expenses “baked” into price schedules. If plastic handling were an additional expense to the purchaser, many, (possibly most) purchasers would prefer to pay by cash or check. Those purchasers are paying for additional baked in service that is not to their preference. Credit card companies are maximizing their own profits by prohibiting their retail clients from passing the card expenses on to the client’s customers that demand those services.
Purchasers who actually prefer to pay by credit card are actually being under-billed. Rather than directly billing only those purchasers for the additional service that demand, it is treated as an overhead expenses spread among all of the purchasers. This effectively raises the prices of most goods and services sold in the USA.
I advocate state governments recognize and prohibit what is a restraint of trade and exercise their jurisdictional power. Financial institutions speak of plastic purchasing bolstering effect upon our economy but seldom mention the social and economic harm due to this too often unnecessary and less preferred personal debt.
The regulation of financial corporate practices is among the very few areas where it’s both feasible and legal for states to improve their own economy The failures of state governments to properly do so are generally due to their' indifference, incompetence and general corruption. I regret that states enable credit card companies to maximize their profits by increasing the prices of almost everything we purchase.
Respectfully, Supposn
