Business cry credit cards fees too high

Credit industry experts said customers' purchasing habits are dramatically different than just a decade ago as customers trend away from using cash.

In turn, many consumers have complained about the high interest rates that credit card companies charge, and now, some businesses that accept credit cards said the rates they pay to accept cards are unfair.

"People were still using cash more often -- using cash or checks for smaller purchases, like under $5 -- and, now, we don't think anything of using our card

Merchants must pay a fee every time someone swipes a card, which can have an impact on the businesses' bottom line. small businesses feel it most and have the least ability to do anything about it.

"Small businesses don't have a lot of leverage, or are (not) in a position to push back on these companies fmf oil is one of those small businesses. Company president john davis said he is not at all happy about the credit card processing fees his company has to pay with every transaction -- both a percentage and fixed fees. "They're actually making more money on a gallon of gas than we are," davis said. Davis has circulated petitions at his convenience stores throughout the state as part of a larger effort by a retail industry group to support congressional action that would increase the transparency of the fee structures and give retailers more power to negotiate. "They write the rules, you either take it or leave it and our customers demand we take it," Davis said.
The credit card industry sees it differently, responding to an inquiry by issued in a statement: "Retailers today receive tremendous benefits from accepting electronic payments, including guaranteed payment, the potential for increased sales, faster checkout times, as well as greater convenience and security -- all at a fair price. The petition drive is part of longstanding and failed attempts by retailers and their trade associations, who are no longer content with paying their fair share, to pad their profits by shifting their normal cost of business onto consumers."

The petition drive that at FMF oil locations around the state continues until Wednesday, after which time the signatures will go to a national trade group that will forward them to Congress.
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