Debit minimum purchase?

Why some stores accept minimum purchase of five dollars in Canada?

4 Answers

Relevance
  • 3 weeks ago

    cause they want people to use their money

  • Anonymous
    3 weeks ago

    It costs between 25-40 cents per usage for small stores. So they lose money on small transactions.

    Bigger places, may have better deals because of more volume. They might pay 2-3% regardless of the amount.

    Its supposed to be against the credit cards rules but its difficult to enforce with so many mom & pops doing it.

  • 3 weeks ago

    They pay a transaction fee on each transaction.

    If the purchase is small, the store doesn't make enough profit to make it worthwhile.

    Some stores also have a minimum or you have to pay an additional transaction fee (25 or 50 cents).

  • martin
    Lv 7
    3 weeks ago

    A store will be charged a small amount sometimes for debit or credit card purchases, so that have a minimum to make it worth their while.

Still have questions? Get answers by asking now.