In message , at 10:31:55 on Sun, 22
Jan 2012, Graeme Wall remarked:
paywave credit cards. Although I always feel a bit awkward using a
credit card for such small purchases.

Why? I usually have a rule that if I can pay by card I do.

Because I know all the processing and billing costs have to be paid by
someone, and in the end it's the consumers.

Handling cash has quite a high cost as well, again, ultimately paid by
the consumers.

As a rule of thumb it's about 1% for cash and 2% for credit cards.

Debit cards?

I'm less intimidated about using a debit card for small transactions, if
only because so many small shops seem happy to accept them rather than
credit cards. The fee will vary, but I've seen 25p-50p quoted for small
traders in the UK (which would break even with a credit card in the
ballpark of £20, depending on what rate they were charged for those).

And of course, the trader probably gets his money from the debit card
fairly transaction quickly, whereas when I took credit cards it was
monthly in arrears (two months for Amex I think).

For online use, Worldpay's current published rate seems to be 3.35% +
35p for both credit and debit cards.

Another outfit is charging less, on what they call "preferential terms":

Credit card 1.695%
Maestro 22.8p
Electron 24.3p
Visa debit 24.3p
--
Roland Perry