The local ARCO gas stations charge a 45 cent “convenience fee”
to purchase gas with a debit card. Credit cards are
not accepted at all. Cash is messy and usually
requires going into the store and standing in line
at the register before pumping, then again to get
change and a receipt. That standing around could
easily add 10 to 15 minutes to the transaction
time to dodge the 45 cent charge.
Now, that the new law and new debit card rules are in place, courtesy of Sen. Dodd and Rep. Frank, do you think you'll get a break on that "convenience fee"?
What rate should the government mandate as a "reasonable" cost of credit and transaction processing?