Hi , just a reminder of mandatory masks almost everywhere. Stay safe.

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How to pay - cash or card?
#1
Hi,
It's looking promising for our annual 3 week holiday at the back end of August.
Are bars and restaurants wanting euros or payment by card?'
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#2
Pre-COVID times - both worked absolutely fine. Nowadays? Card for sure.
I Heart Fuerteventura
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#3
(10-07-2020, 09:54 PM)Sam Wrote: Pre-Covid times - both worked absolutely fine.  Nowadays? Card for sure.

Totally agree, a card where you can, it depends where you are staying, I know that many of the bars in The Monte Castillo Centre, for example, do not accept cards I would suggest a more localised enquiry might be required.
Do not confuse my personality with my attitude my personality is down to me, but my attitude depends on you!
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#4
(11-07-2020, 08:11 AM)Johnrgby Wrote:
(10-07-2020, 09:54 PM)Sam Wrote: Pre-Covid times - both worked absolutely fine.  Nowadays? Card for sure.

Totally agree, a card where you can, it depends where you are staying, I know that many of the bars in The Monte Castillo Centre, for example, do not accept cards I would suggest a more localised enquiry might be required.

You mean those bars where they only accept forms of payment that you can fit in a mattress   Rolleyes


Personally I haven't even touched any Money in months, I use my contactless Applepay on my iPhone so I don't even have to key in a pin.
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#5
(11-07-2020, 07:16 PM)Lexeus Wrote:
(11-07-2020, 08:11 AM)Johnrgby Wrote:
(10-07-2020, 09:54 PM)Sam Wrote: Pre-Covid times - both worked absolutely fine.  Nowadays? Card for sure.

Totally agree, a card where you can, it depends where you are staying, I know that many of the bars in The Monte Castillo Centre, for example, do not accept cards I would suggest a more localised enquiry might be required.

You mean those bars where they only accept forms of payment that you can fit in a mattress   Rolleyes ...

IMO, some businesses prefer cash because they have to pay pretty steep middleman fees for processing card payments. Hidden and due to T&C's can't be added to the final price.
I Heart Fuerteventura
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#6
(13-07-2020, 10:05 AM)Sam Wrote:
(11-07-2020, 07:16 PM)Lexeus Wrote:
(11-07-2020, 08:11 AM)Johnrgby Wrote:
(10-07-2020, 09:54 PM)Sam Wrote: Pre-Covid times - both worked absolutely fine.  Nowadays? Card for sure.

Totally agree, a card where you can, it depends where you are staying, I know that many of the bars in The Monte Castillo Centre, for example, do not accept cards I would suggest a more localised enquiry might be required.

You mean those bars where they only accept forms of payment that you can fit in a mattress   Rolleyes ...

IMO, some businesses prefer cash because they have to pay pretty steep middleman fees for processing card payments. Hidden and due to T&C's can't be added to the final price.

Depending on what you mean by steep, that should not be the case any more, perhaps they have not shopped around for a decent provider. The fact of the matter is the EU put a fixed limit on card transaction charges a number of years ago, precisely because as you say there were lots of small businesses that didn't want to use them because they didn't have the negotiating power with the providers that large multi-nationals with scale have.
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#7
I read an article a couple of years ago which stated  The Spanish Government intended to pass a law whereby all retail establishments would be obliged to accept card payments, the sticking point at the time was how much was the minimum transaction be they were split between €25 and €10, but that appears to have died a death. Rolleyes
Do not confuse my personality with my attitude my personality is down to me, but my attitude depends on you!
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#8
(13-07-2020, 11:08 AM)Lexeus Wrote:
(13-07-2020, 10:05 AM)Sam Wrote:
(11-07-2020, 07:16 PM)Lexeus Wrote:
(11-07-2020, 08:11 AM)Johnrgby Wrote:
(10-07-2020, 09:54 PM)Sam Wrote: Pre-Covid times - both worked absolutely fine.  Nowadays? Card for sure.

Totally agree, a card where you can, it depends where you are staying, I know that many of the bars in The Monte Castillo Centre, for example, do not accept cards I would suggest a more localised enquiry might be required.

You mean those bars where they only accept forms of payment that you can fit in a mattress   Rolleyes ...

IMO, some businesses prefer cash because they have to pay pretty steep middleman fees for processing card payments. Hidden and due to T&C's can't be added to the final price.

Depending on what you mean by steep, that should not be the case any more, perhaps they have not shopped around for a decent provider. The fact of the matter is the EU put a fixed limit on card transaction charges a number of years ago, precisely because as you say there were lots of small businesses that didn't want to use them because they didn't have the negotiating power with the providers that large multi-nationals with scale have.

Not running any business in Fuerteventura but taking plenty of payments online, using PayPal. 30p+2.9% is pretty steep on items/services under £10. Let's say from a fiver the middleman is taking £0.45 - 9% if the customer is located in the UK. If from the US, Paypal will take a cut of £0.54 - almost 11%. One of the reasons why I'm fan of Bitcoin or crypto overall.

Quote:Domestic sales - You get £4.55 (PayPal takes £0.45) (2.9% + £0.30)
Europe - You get £4.53 (PayPal takes £0.47) (3.4% + £0.30)
Rest of world -You get £4.46 (PayPal takes £0.54) (4.9% + £0.30)
https://www.ebayfeescalculator.com/uk-pa...alculator/

I'm sure the bar is also paying some kind of monthly payments to keep the terminal or had to pay upfront for one when opening an account. If there's some kind of minimal feel like in the case of Paypal, selling a single item like beer or an ice cream could get unprofitable pretty fast.

As I said, not a business owner on the island so the numbers could be way off.
I Heart Fuerteventura
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#9
(13-07-2020, 11:51 AM)Sam Wrote:
(13-07-2020, 11:51 AM)Sam Wrote: [quote pid='18192' dateline='1594638489']
Depending on what you mean by steep, that should not be the case any more, perhaps they have not shopped around for a decent provider. The fact of the matter is the EU put a fixed limit on card transaction charges a number of years ago, precisely because as you say there were lots of small businesses that didn't want to use them because they didn't have the negotiating power with the providers that large multi-nationals with scale have.

Not running any business in Fuerteventura but taking plenty of payments online, using PayPal. 30p+2.9% is pretty steep on items/services under £10. Let's say from a fiver the middleman is taking £0.45 - 9% if the customer is located in the UK. If from the US, Paypal will take a cut of £0.54 - almost 11%. One of the reasons why I'm fan of Bitcoin or crypto overall.

Quote:Domestic sales - You get £4.55 (PayPal takes £0.45) (2.9% + £0.30)
Europe - You get £4.53 (PayPal takes £0.47) (3.4% + £0.30)
Rest of world -You get £4.46 (PayPal takes £0.54) (4.9% + £0.30)
https://www.ebayfeescalculator.com/uk-pa...alculator/

I'm sure the bar is also paying some kind of monthly payments to keep the terminal or had to pay upfront for one when opening an account. If there's some kind of minimal feel like in the case of Paypal, selling a single item like beer or an ice cream could get unprofitable pretty fast.

As I said, not a business owner on the island so the numbers could be way off.

I am not a business owner either. Volume is always better for negotiating anything, but I am just thinking of small scale options.

For a start, paypal is VERY expensive, and when it started it was almost the only option for small scale customers so it has become famous. 

Nowadays there are loads of options that are much cheaper, one that I looked at in the past is iZettle, and you don't even need to buy the reader as you can use a smart phone if you really want to.

iZettle charge 1.75% transaction fee, but if you expect regular use then you can pay a £39/month fixed fee and the transaction charge drops to only 1.25%

https://www.izettle.com/gb/pricing


EDIT: Funnily enough paypal appear to have bought out iZettle a couple of years ago Big Grin, let's hope they maintain the separate business and pricing structure
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#10
(13-07-2020, 12:16 PM)Lexeus Wrote: ... EDIT: Funnily enough paypal appear to have bought out iZettle a couple of years ago Big Grin, let's hope they maintain the separate business and pricing structure

There's always hope Big Grin Thumbs Up
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