> From [email protected] Sun Jun 10 13:26:36 > 2012 > Date: Sun, 10 Jun 2012 11:25:35 -0700 > From: Michael Thomas <[email protected]> > To: "John T. Yocum" <[email protected]> > Subject: Re: Dear Linkedin, > Cc: [email protected] > > On 06/10/2012 11:22 AM, John T. Yocum wrote: > > A merchant can offer a cash discount. > > I believe that the law just recently changed on that account. I believe > that what Barry says was the old reality.
You believe incorrectly. :) Merchants have NOT, per Visa/Mastercard/Amex/Discover/Diners Club contracts in the U.S., been prohibited from offering discounts for cash transactions for more than 20 years -- based on my direct kowledge of such contracts as a card-processing merchand.. TTBOMK, merchants were -never- so prohibited by such a contract. There are 'restraint of trade' issues involved if a contract attempts to place restrictions on transactions that do not involve all the parties to the contract. Forbidding surcharges on transactions paid for by the issuer's card -is-, on the other hand, fair game for the contract under which the issuer agrees to pay for certain purchases. Recently-enacted (2010) U.S. law *does* explicitly permit -- overriding any contract terms to the contrary -- setting a 'minimum purchase amount' for credit card transactions, as long as that amount does not exceed US$10.
