Why do gas prices have a fraction?

Ever wonder why gas stations list prices with a "point" typically ending in 9/10 of a cent?  It is a practice that goes back to the early 1900s when adding even a single penny to the price of gas seemed like a significant increase due to lower overall gas costs at the time.  It's a marketing tactic that makes prices appear slightly cheaper to consumers, creating a psychological perception of a better deal compared to a whole number price.
 
How does this relate to credit card processing cost?  There are many companies in this industry that may only tell you what you want to hear, instead of giving you the truth. They might mention a very low rate of 1.25% cost to accept credit cards, however not mention the other fees.  Like, transaction fees, annual fees and termination fees, just to name a few. To really see ALL of the cost you need to look at the monthly processing statement.  To see the statement can take a lot of effort by requesting a login to a portal and the effort of login monthly.  Many time the statements can be hard to understand.  Just like gas stations marketing tactic, this is a way to keep the info difficult hard to view.  As it is stated, “Out of sight, out of mind”.

We are here to help your business and earn your business and keep your business! By giving you great rates and service, you win and we win. We are here for the long haul. If you want transparent info and at your finger tips every month, give us a call at First Coast Payments! 904-638-8804