"The response is loud and clear: consumers aren't buying the message convenience store chains and big retailers are selling," said Bill Sheedy, group president of the Americas for Visa Inc. "This research demonstrates that consumers are well aware that legislation is a Trojan horse that likely will lead to higher prices for cardholders while retailers pocket the savings."
Among the survey's findings:
- By a 2-to-1 margin, consumers say retailers should pay the cost of accepting credit and debit cards.
- 78 percent of consumers believe the value and benefits retailers receive from accepting credit and debit cards outweigh the costs of accepting them.
- 83 percent of those surveyed believe that any savings retailers realize will be used to increase their own bottom lines and will not be passed on to consumers.
- 91 percent of consumers say they are more likely to shop at stores that accept credit and debit cards.
The research shows consumers understand that retailers benefit greatly from electronic payments whether it is through guaranteed payment, increased security, acceptance, innovation or even store-brand cards that help build customer loyalty.
"Retailers want the best of both worlds - the benefits of card acceptance without paying the costs," Sheedy added. "This research shows that retailers who are campaigning for checkout fees or uneven legislative schemes that shift the cost of doing business onto the backs of consumers are risking a customer backlash."
Currently ten states protect consumers from card checkout fees, also known as surcharging, and Visa has rules that prohibit retailers from penalizing consumers who use their branded credit, debit or prepaid cards. Unfortunately, a number of retailers are seeking to evade Visa rules and state laws by attempting to shift their cost of doing business onto consumers who use electronic payments through checkout fees.
DON'T PAY ADDITIONAL FEES AT CHECKOUT
- Look for posted signs in stores (generally at the checkout counter) that advertise an extra fee for using a credit or debit card.
- Check store receipts carefully for card checkout fees. They often appear after taxes on receipts, sometimes next to obscure descriptions.
- Tell the checkout clerk or store manager that charging a checkout fee for using a credit or debit card is not permitted.
- If cardholders experience a retailer who is charging checkout fees, they should call their card issuer (by calling the number on the back of their card) and provide the customer service representative with the name and location of the retailer.
- Consumers who are subjected to payment card checkout fees in states where they are protected by law may report the retailer to their state attorney general's office.
