So I went to a small restaurant to pick up a quick lunch. I had chosen a meal which would amount to $7.50 or so. As I was about to swipe my card, I was told that there was a minimum of $10 to swipe a card. I didn't have cash on me so I canceled my order and walked out. As I walked out i started to think of the numerous times I've walked out of business due to a minimum credit charge or cash only.
Is it really worth these business to turn down customers not willing or needing to spend more than the minimum credit card charge? In my point of view it's so silly to turn away a sale. At my current job or Credit card processor charges around 4-5% per transaction so it cant eat up so much profit that its better to turn away a customer than making credit card sale less than $10 (I understand for purchase of a few bucks that it may not be worth it). Not only did they miss that sale I doubt I'd make an effort to return to the business. (mostly since i choose not to carry cash)
Any small business owners have experience with this?