Panama City, FL –
PANAMA CITY, Florida (WMBB) — Credit and debit cards are convenient, but they could cost you more.
“It’s nationwide. Everyone is again looking for a solution as credit card processing fees continue to rise,” said Rodney Friend, president of Merchant Management Group and cHooZ.
Many local restaurants, gas stations, and other business owners raise the price of their products or charge customers credit card processing fees.
Local consumers have mixed opinions about whether they want to see the additional fees or if they want them included in the price of the product.
“I don’t mind them charging more,” said local Chris Infinger. “From what I’ve noticed, most local businesses that charge more for credit card processing fees at least tell you they are, so it shows on the bill.”
Many local merchants don’t realize how much they could save by charging customers these credit card processing fees.
Trigo Deli owner Gilbert Hamati said he jumped on the bandwagon six months ago.
“Everyone uses credit cards and the fees they cost us were just overwhelming,” Hamati said. “I mean we pay between $2,500 and $3,000 in credit card fees every month. It’s a lot of money for me, so we had to start doing it.
Hamati uses a system called cHooZ.
Rodney Friend said hundreds of local businesses have also adopted it this year.
“Basically what it’s doing is an app that will raise prices so the consumer won’t see it, but that way it’s covering the cost of credit card fees,” Friend said. “We just think it’s a better experience for the consumer, so the consumer doesn’t see the actual surcharge that’s on the invoice, it’s already on the price of the embedded menu.”
But some business owners have said they will continue to pay these fees themselves.
“I think, you know, we’re a business and it’s part of the business,” said Lisa Hanna, owner of LH Bead Gallery.
Card processing fees now range from 3-5%.
Some consumers being charged credit card processing fees Source link Some consumers being charged credit card processing fees