Merchants, most visibly gasoline stations, have been offering discounts for cash payments because their agreements with credit card companies barred them from tacking on surcharges to process plastic.
But now, following a settlement between merchants and credit card giants Visa and MasterCard, that has changed.
According to new rules that went into effect Jan. 27, businesses are allowed to charge up to 4 percent on credit card transactions–provided they share their intentions with credit card companies and have clear signs telling customers about their policy.
Story by Abha Bhattarai for the Washington Post.
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