Why do some places only take Visa/Mastercard

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Why do some places only take Visa/Mastercard

Postby bikermike » Thu Apr 24, 2008 9:33 pm

Does anyone know why stores do that? You would think if they want to do the most business possible and cater to the most people they would just accept every card you know.

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Postby fffresh » Sat Apr 26, 2008 9:21 pm

Usually merchants are charged more for the American Express transaction fee. I think it's something like around 0.5% to 1% more than Visa or Mastercard so that's probably why. But they're losing business. I was at a gas station a while back that did that and they wouldn't accept American Express so I left. Not wise for them to lose business and be greedy over 1% more.

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Postby ka8 » Wed May 14, 2008 1:49 pm

I don't know but it pisses me off. I was at H&M yesterday and I went to pay but couldn't because they stopped taking American Express. They accept every other card except Amex. I asked why and they said because the transactions fees are high and if they have to swipe a card twice because it wasn't read the first time, they get charged each swipe. Don't know how much of that is true or not but I couldn't make my purchase. I put the stuff on hold and am going to need to dust off my Citi Mastercard to go pay for it today.

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Postby Mogul of Pineapples » Thu Jun 05, 2008 11:22 pm

A lot more places seem to be taking American Express the last few years too. I think Visa/MC will always dominate since there's thousands of different companies that issue them and are part of their organizations.
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Postby coolpixxx » Wed Jul 09, 2008 2:09 pm

Places that won't accept my Discover card lose my business. What is wrong with these people they need to get with it and start accepting all cards. If they only support Visa and Mastercard that is a monopoly. I think there should be a law that they have to take Discover and American Express anywhere they take credit cards

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