With an average credit card processing cost of 2% for retail businesses, local small businesses say they're seeing the effects of the "plastic."
??I'd say for the most part we definitely have more credit card use than cash and some days it's as high as ten to one credit card versus cash,?? said Blink of an Eye Owner, Keith Jackson.
I know from about five years ago, credit cards made up just a little under half of our sales and now they're almost a majority,?? said Sarah Mitchell, Sweet Espressions Coffee House Owner.
Experts say there's not a lot of transparency. A merchant will be charged an amount based on if the card is Visa, MasterCard or American Express even if they had the same processing company.
??Every time we run a credit card we get a service charge that is a percentage to pay and it cuts in very quickly, especially at a coffee house where your sales are like a dollar sixty two,?? said Mitchell.
Local business owners are saying, they'd rather opt in on card fees in order to keep business rolling.
??It's just a part of being in business today. You're going to have those expenses. I don't think you can get around it,?? said Jackson.
??You've got to pay the man or you don't get paid because so many people don't even carry cash anymore to make the step of not accepting credit cards is actually a death sentence,?? said Mitchell.
??You can help them as a consumer by paying with cash or with a check but sometimes the convenience of using that card overrides the costs of using that card,?? said Steven Sorhus, Southhouse CPA, LLC.