According to some gas retailers, the high price of swipe fees when accepting credit card payments is forcing them to pass on added fees to consumers. In certain cases, the price advertised by the gas stations will only apply to those paying with cash instead of credit cards.
The Maryland Reporter explains that some consumers feel that the practice of advertising the lower, cash-only price is misleading. When the time comes to pay the bill, some are taken aback by how much more expensive it is to pay using a debit or credit card. In an interview with the source, 18-year-old Eli Bergan said that he had been told one price while he ended up paying significantly more.
Mid-Atlantic Petroleum Distributors’ Association president Peter Horrigan said that part of the reason for the confusion was because of heavy competition in the market.
“In our business I think the unfortunate thing is that you have to put the price out for everybody in the world to see on the street, all your competitors see it, all the consumers see it. So when they see a lower price, their first reaction is I want that price,” said Peter Horrigan.
When and if a retailer does accept credit cards, it will need to ensure that all security measures are in place. Perhaps the best way to do this is by achieving PCI compliance.Back To Blog