What are your thoughts on retail shops charging the customer the credit card processing fee?
We currently pay 100% ourselves.
Discussion
You should probably be taking payments in bitcoin, rather than credit.
Well that would be great but no one has expressed any interest in doing so. This is primarily debit cards via square.
Adding 3-5% at least makes customers aware. But they could be welcomed to pay in cash or bitcoin. I think customers don’t like it… but maybe it could be offered as a discount for cash or bitcoin instead.
Companies who deal in the 1000s of dollars generally account for the fee in my experience.
You should take into consideration any disparity in staff effort between your payment methods. If a transaction takes twice as long, and/or is more error-prone when it’s cash, then there is a value the credit card network provides.
For me, using a credit card is way more convenient and I get “points”. The drawback, of course, is the surveillance that comes along with it. As a customer, I don’t like seeing two prices, and/or having to do math in my head on whether the points I receive will even out the extra cost. Don’t make your customers think too hard. They’ll start thinking about whether they even need the product. Reduce friction as much as possible for payments.