square’s fees are 2.6% + 10 cents for in-person tap, swipe, and dip.
as someone who has negotiated these, the business volume necessary to get a custom (lower) fee is pretty low. so this is the most they’d pay.
food establishments don’t have a refund problem like other businesses. not many returns at the wing places.
regardless, they don’t charge the fee again on refunds, they just don’t refund the original fee paid.
I think I’ve read that interchange on premium cards can get up to 4% or 4.5%. Is that right?
It is a strange logic where a card is giving 2% cash back (or X “points” ) and the store has to have a surcharge of 4%.
What are the odds that if using cash (again) really catches on banks will move to higher charges for handling cash?
in the US that would be very high. the Square fee above applies to all cards. So if you’re a business that has more AMEX etc, you’re getting a better deal. Merchant services typically offer such all-in-one rates or separate for each cc. depends on your business needs.