Court decision is not priceless

WARWICK — New Yorkers need not worry.

After Sunday, Jan. 27, retailers throughout most of the country have the option of charging a checkout fee of up to four percent of the transaction to consumer credit card purchases.

Some Warwick merchants have complained in the past about swipe fees where credit card companies and banks charge an unreasonable fee to the shop owner every time a customer uses a credit card to pay for a purchase.

The new ruling is the result of a settlement following a lawsuit against MasterCard, Visa and some other financial institutions. The checkout fee is optional.

NY is one of 10 states
However, 10 states, including New York, have laws restricting any type of surcharge fees. The other states are California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts and Texas.

Local shoppers and perhaps even merchants who would have to decide if the charge was worth the extra accounting or the perception of unfairness can breathe a sigh of relief.

“I received a letter from one of my credit card companies that I could now add this charge,” said Bill Iurato, owner of Peck’s Wines and Spirits. “I wasn’t planning to do it but the letter did not say it was not an option in New York.”

He is, however, annoyed by “swipe” fees that the merchants must pay when debit cards are used.

Iurato believes much of the high fees imposed on both the merchant and the consumers are due to fraud. He is hopeful the United States will soon get on board with the European system that requires a personal identification number (PIN) with each credit card transaction.

- Roger Gavan