Have you noticed that pesky extra charge on your restaurant bill lately? It seems like every time you swipe your card to pay, you’re hit with a credit card surcharge. From neighborhood joints to high-end eateries, these fees are popping up everywhere.
The truth is, credit card surcharges are on the rise in the restaurant industry. With more and more establishments implementing them, it’s hard to avoid paying a little extra when you use your card to settle the tab.
But wait, there’s more to the story! New regulations in New York are aiming to rein in restaurants’ use of these service surcharges on credit card transactions. Effective Sunday, eateries must either include processing fees in menu prices or clearly display separate prices for cash and credit payments before ordering. This law, signed by Gov. Kathy Hochul in December, ensures transparency by prohibiting inflated charges beyond actual swipe fees, aiming to prevent diners from encountering unexpected surcharges.
So, why the sudden surge in surcharges? Well, it all boils down to the costs that restaurants incur for processing credit card payments. With the growing trend of cashless transactions, eateries are feeling the pinch of these fees now more than ever.
But fear not, there’s still hope for your wallet! Some restaurants are upfront about their surcharges, making them clear on menus or at the point of sale. Others may offer discounts for cash payments as an alternative.
While credit card surcharges may be spreading like wildfire, it’s crucial for diners to stay informed and understand why they’re being slapped with these extra charges. After all, a little knowledge can go a long way in navigating the dining landscape and keeping those dining expenses in check.
Source:
merchantcostconsulting.com/lower-credit-card-processing-fees/credit-card-surcharge-laws-by-state/