<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by CanuckFlyer:
That, to the best of my knowledge, is false. The store pays 2-4% on net charges: purchases minus refunds. So in a given day if a merchant has $10000 in purchases and $1000 in refunds, they pay the credit card company 2-4% of the net $9000. If the merchant has a day where there are only credits, the credit card company refunds them the 2-4%.
Others: isn't this the case?
[This message has been edited by CanuckFlyer (edited 06-15-2003).]</font>
Yes, absolutely correct.