Somebody else touched on this, but I think it's worth looking into.
True Value as a franchise - one would think - could get a lower rate for their franchisee's if they all ganged up and gave their CC transaction business to one company. (not sure how that'd work across state lines, but at least at the state level).
I don't know the brick&mortar side of this, I run a strictly online business. But we pay a little less than 2.5% because we do a few million per month in transactions. As you know it's hard to compare side by side - there are all the little extra fees thrown in to confuse comparison shopping for cc processing services - but the bottom line is there's the potential to cut that rate down significantly if you could increase your volume.
I would think true value stores could get that kind of volume power through a coordinated effort - have a credit card processor compete for your combined business. I can't see why they wouldn't.
Even if it's just one percent, or even half of a percent, I think it'd be worth the effort.
OR... do they dictate who you have to use, and take a slice for themselves??? I'm curious.
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