As small business owners, we were incredibly dismayed when we learned of proposed legislation (Senate Bill 688 and House Bill 1259) that would greatly complicate – and very likely jeopardize – card-based transactions. The issue at hand is the requirement that businesses, even tiny operations like ours, establish agreements with every bank issuing credit cards to its customers to ensure that the payment would be accepted.
Our business is in the Cambridge Artists’ Cooperative, and we face escalating costs for rent, utilities and raw materials for custom-designed art & craft productions. These force us to adapt or accept reduced profitability. We are hyper-conscious of our operating margins. Such challenges are shared by all seven of the members of the Cooperative, and as merchants we take great pride in our resilience, just as we do with our creative endeavors.
In this era, people prefer the simplicity offered by paying with cards. It gives convenience and security, also benefits we appreciate. Transactions are quick and painless and we don’t have to worry about large cash deposits. Since our store is located in Harvard Square, which welcomes tourists from around the world year-round, it’s incredibly helpful that prospective customers aren’t handcuffed by whether or not they have sufficient currency on hand.
Our time is spent running our shop and fulfilling customer orders. Where would we find the time to set up individual agreements with banks across Massachusetts, let alone the globe? How likely is it that banks across the world will share our urgency? These are concerns that are easily assuaged if you are a large retailer with the resources and connections to swiftly handle these additional steps, but that is not our situation.
Because of our customer base, we would not be able to cut any corners. On any given day, our shop might see visitors from Singapore, the UK, Japan, to name just a few. The diversity in clientele that walks through our doors is one of the things we love most about Harvard Square, but if this law moves forward, it will become a massive, untenable burden.
If we don’t have agreements with every bank in place, we simply have to hope that when a customer comes in their card will work. And that answer would only be determined upon check out, after they have spent time browsing our collections and deciding upon making a purchase. To turn them away, only at that moment, puts us in an incredibly difficult and uncomfortable position. They want our creations and we want their business. Why throw a wrench in that dynamic? The fact that Massachusetts would be the only place where this is in effect would make the situation even more confusing.
Small businesses already face an uphill battle just to get by; we don’t need to add any more hoops to jump through. Not having to worry about where a customer banks, regardless of where they came from, is critical to our operations. Please, Massachusetts, do not put our business at a disadvantage by instituting this unfair, onerous legislation.
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Beacon Hill’s credit card bills hold big costs for small businesses
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As small business owners, we were incredibly dismayed when we learned of proposed legislation (Senate Bill 688 and House Bill 1259) that would greatly complicate – and very likely jeopardize – card-based transactions. The issue at hand is the requirement that businesses, even tiny operations like ours, establish agreements with every bank issuing credit cards to its customers to ensure that the payment would be accepted.
Our business is in the Cambridge Artists’ Cooperative, and we face escalating costs for rent, utilities and raw materials for custom-designed art & craft productions. These force us to adapt or accept reduced profitability. We are hyper-conscious of our operating margins. Such challenges are shared by all seven of the members of the Cooperative, and as merchants we take great pride in our resilience, just as we do with our creative endeavors.
In this era, people prefer the simplicity offered by paying with cards. It gives convenience and security, also benefits we appreciate. Transactions are quick and painless and we don’t have to worry about large cash deposits. Since our store is located in Harvard Square, which welcomes tourists from around the world year-round, it’s incredibly helpful that prospective customers aren’t handcuffed by whether or not they have sufficient currency on hand.
Our time is spent running our shop and fulfilling customer orders. Where would we find the time to set up individual agreements with banks across Massachusetts, let alone the globe? How likely is it that banks across the world will share our urgency? These are concerns that are easily assuaged if you are a large retailer with the resources and connections to swiftly handle these additional steps, but that is not our situation.
Because of our customer base, we would not be able to cut any corners. On any given day, our shop might see visitors from Singapore, the UK, Japan, to name just a few. The diversity in clientele that walks through our doors is one of the things we love most about Harvard Square, but if this law moves forward, it will become a massive, untenable burden.
If we don’t have agreements with every bank in place, we simply have to hope that when a customer comes in their card will work. And that answer would only be determined upon check out, after they have spent time browsing our collections and deciding upon making a purchase. To turn them away, only at that moment, puts us in an incredibly difficult and uncomfortable position. They want our creations and we want their business. Why throw a wrench in that dynamic? The fact that Massachusetts would be the only place where this is in effect would make the situation even more confusing.
Small businesses already face an uphill battle just to get by; we don’t need to add any more hoops to jump through. Not having to worry about where a customer banks, regardless of where they came from, is critical to our operations. Please, Massachusetts, do not put our business at a disadvantage by instituting this unfair, onerous legislation.
Like this:
Related Stories
A stronger
Please consider making a financial contribution to maintain, expand and improve Cambridge Day.
We are now a 501(c)(3) nonprofit and all donations are tax deductible.
Please consider a recurring contribution.