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Reply #22: Most point of sale software today automatically check to see if it is debit instead of credit. [View All]

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ieoeja Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-01-11 01:23 PM
Response to Reply #3
22. Most point of sale software today automatically check to see if it is debit instead of credit.

If you *do* have the choice yourself, and you use it as a credit card ... then, yes, they charge the seller. However, if you use it as a debit, or the POS software simply forces you to enter a PIN, then the seller is not charged.

The seller is assuming a portion of the risk that the buyer may not pay a credit card loan. There is no such risk with debit cards.
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  -Just got schooled about Bank of America dropping the $5 fee AmericaIsGreat  Nov-01-11 11:47 AM   #0 
  - Why don't we pay them to hire us  DearAbby   Nov-01-11 11:49 AM   #1 
  - Why should they hire us?  Skip_In_Boulder   Nov-01-11 11:58 AM   #5 
  - BoA can kiss my bootie. I'm leaving them behind soon. nt  Sarah Ibarruri   Nov-01-11 11:50 AM   #2 
  - It used to come out of the merchants. Now it will come out of the user.  dkf   Nov-01-11 11:51 AM   #3 
  - Most point of sale software today automatically check to see if it is debit instead of credit.  ieoeja   Nov-01-11 01:23 PM   #22 
     - Sure there is a risk with debit cards...fraud.  dkf   Nov-01-11 01:56 PM   #26 
        - Less risk then. Anyway, the point is that they did not charge merchants for debit card use. n/t  ieoeja   Nov-01-11 02:27 PM   #27 
  - Incredible, these old geezers believe this Reagan crap, still!!  CarmanK   Nov-01-11 11:57 AM   #4 
  - Poll: For economy fix, Americans pick Reagan over Roosevelt  abelenkpe   Nov-01-11 02:37 PM   #29 
     - Or they like tax hikes  leftynyc   Nov-01-11 02:56 PM   #32 
  - oh the humanity !  KurtNYC   Nov-01-11 11:59 AM   #6 
  - It is because of Dodd-Frank -- but there is a CORRECT way to handle the wingnuts  banned from Kos   Nov-01-11 12:00 PM   #7 
  - Ask your conservative friend...  randome   Nov-01-11 12:07 PM   #8 
  - Of course not. That would lead to layoffs!  AmericaIsGreat   Nov-01-11 12:26 PM   #10 
  - Yeah, I guess to the conservative mind-set...  randome   Nov-01-11 12:44 PM   #12 
  - Then all the talented people would leave to join other banks  Johonny   Nov-01-11 02:44 PM   #30 
  - Your old conservative gentlemen friend should take an economics course  ixion   Nov-01-11 12:16 PM   #9 
  - where did he hear that?  Enrique   Nov-01-11 12:40 PM   #11 
  - ignorance.  barbtries   Nov-01-11 12:45 PM   #13 
  - It was BofA's punitive answer to Frank-Dodd that put them in the spotlight & will be the  pacalo   Nov-01-11 12:46 PM   #14 
  - It would be easier to accept these lame explanations if they would  The Backlash Cometh   Nov-01-11 12:52 PM   #15 
  - They think we don't see that...  JuniperLea   Nov-01-11 01:17 PM   #18 
     - At the bottom of what's going on is a definite belief from the 1%  The Backlash Cometh   Nov-01-11 01:22 PM   #21 
  - It's also going to make it harder for the bank to eat those derivatives  Warpy   Nov-01-11 01:10 PM   #16 
  - It's all about their bottom line...  JuniperLea   Nov-01-11 01:13 PM   #17 
  - Of course. When these proven criminals get money, they use it to help people and the economy.  Fire Walk With Me   Nov-01-11 01:20 PM   #19 
  - My heart just bleeds for the poor banks! Since they're people too, I think we should  sinkingfeeling   Nov-01-11 01:21 PM   #20 
  - If they can't fuck you one way....  ProudToBeBlueInRhody   Nov-01-11 01:24 PM   #23 
  - The old fool. This is capitalism at work  n2doc   Nov-01-11 01:25 PM   #24 
  - It's a nice little piece of progress, but only the liquidation of this criminal organization...  JackRiddler   Nov-01-11 01:28 PM   #25 
  - B of A will have poorer company performance because it can't fleece it's customers?  abelenkpe   Nov-01-11 02:35 PM   #28 
  - Conservative OK with banks demanding more fees from customers  abelenkpe   Nov-01-11 02:49 PM   #31 
 

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