During a delivery today I was paying the driver using my credit card and gave my Chip and Signature card. He insisted on phoning the depot and I paid over the phone.
I was told that if he accepted a chip and signature card the charges were 3% more than for a chip and PIN card.
Anyone able to confirm or deny that banks are charging more for businesses that accept chip and sig cards?
In article , Mark BR writes
It sounds like the usual lack of understanding of chip and sig. For a transaction put though on a terminal I can see no way that a different fee could arise but they may say that they were unable to process it on a terminal and so their costs were higher as a result, or that risks were higher in the mistaken assumption that it was actually a chip no pin transaction.
For Mastercard the rules are suitably vague stating that costs, "must bear a reasonable relationship to the Merchant?s cost of accepting Cards", so that may be their get out.
This from:
Not very helpful I'm afraid but I've found the rules useful for ironing out other chip & sig related discrimination.
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