Extra charges on payment made by credit card ?

POSTED BY bmsjagoinvestor ON February 23, 2014 10:31 am ONE COMMENT

I went to a shop “TEC ZONE” at Raghuleela Mall – Kandivali west to by a mobile. On negotiating the shopkeeper agreed to offer me the piece at a price available in another local shop in the vicinity.

When I went to make payments I was asked to pay 2.5 %  extra for paying by credit card, which was never charged by any vendors so far as I do most of my purchases by cards.

I thought the vendor was trying to flees customers by using this tactic of reducing the price first and then charging the difference by additional 2.5% fees for paying by credit card.

I did not buy the product as I felt I was being cheated, though the extra amount was approx. Rs. 500/-.

I want to know if it is legal to charge extra if payments are made by credit cards by vendors.

One reply on this article “Extra charges on payment made by credit card ?”

  1. ashalanshu says:

    Dear BMS, the charge is illegal. Actually the shopkeeprs have to pay transaction fee for card swiping and thus they receive less money then what is swiped for. Many of shopkeepers thus try to recover this from customers by swiping the added amount.

    Thanks

    Ashal

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