
From Utica to Manhattan – How Do New Yorkers Prefer to Pay?
This content was produced in partnership with Bazoom Group.
Like in many other states, most forms of payments are accepted throughout the State of New York. While there might be some variations depending on the particular merchant, customers are usually free to conclude transactions using a variety of channels. The options include card payments from different providers, third-party wallets, cash, and cryptocurrencies.
With online payments, credit and debit cards are the most popular option in New York. In fact, the average New York credit card debt is $3,710 per capita, nearly 20% higher than the national $3,100 average. This points to New Yorkers’ heavy dependence on card use for online transactions.
While e-commerce payments may be very common, there are also several other sectors where New Yorkers could use or are already paying with cards. For instance, casino Visa payments for online gambling platforms are used for deposits among players who want to enjoy exciting casino games and access great benefits while doing so. With Visa payments, gamblers can enjoy classic casino games as well as novel options, in addition to numerous entertainment options.
New Yorkers should also note that the ease of card payments may come with a few drawbacks. For instance, there may be quite a few surcharges that vary between card providers. While some might charge a flat percentage for example, others may apply charges in increments depending on the amount processed.
Thankfully, New York law has strict requirements for payments depending on the method. Businesses and service providers cannot advertise a price and later add a charge when the buyer decides to pay with a credit card. Businesses are also prohibited from publicizing the added fee at the point of entry or on a menu. The permitted method is to inform all customers that the price will be higher by advertising the higher price.
For debit cards, the same protections do not apply. The business is free to post a sign that informs customers of a debit card surcharge. However, customers must be aware of such additional fees before they reach the point of payment.
Furthermore, businesses are allowed to offer a discount for customers using cash. They can advertise a lower price next to the higher credit card price and specify that the lower price applies solely to cash payments. Another option is to display the credit card price as required by law, and then inform customers they are entitled to a cash discount. Alternatively, the business can advertise the credit card price and charge all patrons the same thing, regardless of their preferred mode of payment.
According to New York State Assemblymember Amy Paulin:
“Credit card surcharges now have to be disclosed clearly so that customers are fully aware of them upfront and not just when they go to pay. This is about transparency, fairness and preventing consumers from being misled when making purchases using credit cards.”
While card payments are popular in New York, the discounts enjoyed by cash tractions could potentially make a difference. People might be more willing to use cash at brick-and-mortar establishments instead of cards and other methods. Even if the situation changes such that cash becomes more widespread, these discounts will only be applicable offline.
If you or anyone you know has a gambling problem, call 1-800-GAMBLER.
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