New Credit Card Technology Pushing Retailers to Allow Small Credit Purchases
In 2003, Visa stopped requiring signatures on purchases under $15 and eased merchant fees, prompting Visa sales at fast-food restaurants to double between 2003 and 2004. Visa charges for other smaller items also went up 25 percent during that time.
Credit card companies are also pointing to the speed and convenience of allowing credit card transactions. MasterCard is offering PayPass, which is a card that can be tapped on special terminals that McDonalds now has in some stores.
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