Here there is no such law. They have to accept cash but even so can place limits such as not all in coins or no unusually large bills
However electronic payments is up to their card processor. So far the major processors have mandated that you have to accept all: credit and debit processed by them (I no longer see places that don’t accept tap to pay so maybe that’s included now. American Express used to be excluded because of high fees and they are neither visa nor Mastercard, but I have no idea what the current situation is. Costco is the only place I know that only accepts visa or only accepts Mastercard, I forget which
But …… some credit cards lean in on various types of rewards back to sell a lot more cards. From the user point of view, it’s money for nothing. However that’s paid for by higher fees to merchants. As part of recent rollback of consumer protections, merchants are now allowed to charge a different price for cash vs cards and those higher fee rewards cards mean they really want to push all those fees back to the customer.
So if you have a rewards card in the US, thank you for extracting more money from the merchant, driving them to charge the rest of us more. Your cash back is funded by higher prices to me
Here there is no such law. They have to accept cash but even so can place limits such as not all in coins or no unusually large bills
However electronic payments is up to their card processor. So far the major processors have mandated that you have to accept all: credit and debit processed by them (I no longer see places that don’t accept tap to pay so maybe that’s included now. American Express used to be excluded because of high fees and they are neither visa nor Mastercard, but I have no idea what the current situation is. Costco is the only place I know that only accepts visa or only accepts Mastercard, I forget which
But …… some credit cards lean in on various types of rewards back to sell a lot more cards. From the user point of view, it’s money for nothing. However that’s paid for by higher fees to merchants. As part of recent rollback of consumer protections, merchants are now allowed to charge a different price for cash vs cards and those higher fee rewards cards mean they really want to push all those fees back to the customer.
So if you have a rewards card in the US, thank you for extracting more money from the merchant, driving them to charge the rest of us more. Your cash back is funded by higher prices to me