Cardholders wary of credit surcharges
A new ACNielsen survey has confirmed that a credit card surcharge would lead to a loss of 29 per cent of retailers' and merchants' customers. The survey also found that only 3 per cent of the 1,400 respondents had been charged a fee since January 1 when retailers were permitted to apply a surcharge. Thirty-nine per cent of the total respondents said they'd prefer to use cash if they knew a surcharge was being applied with 45 per cent of women saying they'd use cash.
Consumers earning less than $30,000 a year and people aged between 18 and 24 were more likely to try to avoid paying the surcharge. The more people earn, the less they are concerned about paying the fee. Only 4 per cent of the total respondents said they'd use EFTPOS or cheques to pay for goods and services. The survey's findings suggest that cash may re-emerge as a preferred way to pay.