Some gas stations stop taking credit cards

Some gas stations stop taking credit cards
Tags: POS, Payments, Retail - Convenience Stores
June 18, 2008

MSNBC: When gas station manager Roger Randolph realized it was costing him money each time someone filled up with $4-a-gallon gas, he hung a sign on his pumps: "No more credit cards." He may be the first in West Virginia to ban plastic, but gas station operators nationwide are reporting similar woes as higher prices translate into higher credit card fees the managers must pay, squeezing profits at the pump. As gas tops $4 a gallon, interchange fees move toward 10 cents a gallon. Now stations, which typically mark up gasoline by 11 to 12 cents a gallon, are seeing profits shrink or even reverse.