Why does the POS machine say no to the credit card?

“I bought wooden flooring in a shopping mall in Nanhu Market last week. After the price was settled, the boss said that he could only pay for debit cards or pay cash, and could not swipe credit cards.” Xiao Zhou recently engaged in renovation, for large transactions, he Already used to swiping credit card spending, "One is convenient for bookkeeping, how much money is spent on the electronic bill; the second is to swipe the credit card with an interest-free period to facilitate the flow of funds." But the business is cold, and he feels embarrassed.

Xiao Zhou said this in the decoration group. The first reaction of the neighbors was related to the handling fee. "It must be that the credit card processing fee is expensive, and the merchants make excuses to prevent the card from being swiped." Is this the case? The reporter called the merchant mentioned by Xiao Zhou to verify that the staff said that they could swipe the credit card before, but in July and August of this year, the company's POS machine would not allow the credit card to be swiped. "At the time, it was said to prevent the POS machine from cashing out. We didn't want to swipe the credit card at this store." The staff said that she had mentioned it to the company several times, but the company always dragged it down and she couldn't help it.

The reporter learned that there are both factors in the merchants' handling of card processing fees and the reasons for supervision. In the middle of this year, the People's Bank of China issued the “Administrative Measures for the Collection of Bank Cards (Consultation Draft)”, which includes a new policy for POS machines to accept credit card payments, “Applications for individual businesses using personal accounts as settlement accounts. The POS machine cannot open the credit card acceptance function." Because of this, the POS credit card function applied for some personal accounts is closed. If the merchant re-applies for the public account POS machine, it will need to pay a higher handling fee, and the time for the funds to arrive will be extended, and the merchants will not be able to apply for the POS machine of the public account.

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