Posted by Paul on August 02, 2013 at 06:56:58 from (66.44.139.8):
In Reply to: OT Debit card nKFC posted by ollie poor on August 02, 2013 at 06:07:35:
Other side of the coin, was in line at a McDonald's, kid in front of me ordered and paid his $5 with a debt card, then forgot he wanted a second beverage for a buck, paid that with the debit card again.
So for a $6 bill, McDonald's likely had to pay the finance company 50 cents in swipe fees and 18 cents in the percentage fee. They sure lost money on that $1 transaction.....
Agree the whole deal stinks, there is a pretty big court case and lots of lobbying going on, as I read last week two very powerful groups are butting heads on this, financial folks against retail folks. The fees are just crazy amounts of money when you add it all up.
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