Originally Posted by
ibanez7
The reason the gas stations do it, is for their own profit.
Each credit/debit transaction device is owned by a seperate company that charges the gas station a percentage for the dollar amount in the transaction for using their device.
Most of these companies increase the percentage of what they charge after a specific dollar amount. Gas stations that stop the pump at $50 or $75 are trying to keep that percentage down so they can make more profit and reduce their overhead. In other words passing that pain in the ass effect down to us. some gas stations have removed the credit/debit transaction device from the pump causing drivers to pay cash only. Who the hell carries and uses cash any more.
lets say
$0-$20 = 1.3%
$20-$40 = 5%
$50 or $75 or higher = 13%
that becomes a huge expense to the gas station, since gas is over $4 a gallon and well over a 100 transaction take place a day!