Businesses might offer discount to customers who pay cash
Businesses across the country are now trying to figure out if they will charge customers who pay with credit cards more than customers who pay with cash.
Those credit card transaction fees can cost businesses a lot of money.
But after a tentative settlement with MasterCard and Visa, businesses will have the option of charging us more if we pay with credit cards.
Kroger, the parent company of King Soopers, is one company considering two different prices, although no decision has been made.
Colorado is one of ten states that prohibits credit card surcharges, but retailers are allowed to offer cash discounts. Some experts expect to see more of that.
Mac Clouse, a professor of finance at Daniels College of Business at DU, says he expects this to be a trend. “I think we are going to see more businesses asking for cash,” Clouse said. “If you don’t want to pay cash, you are going to have to pay a higher price.”