Tuesday, January 26, 2010

Kangaroo Fights Plastic Profits

The Kangaroo mini-mart chain is on a crusade, albeit we fear a futile one. Visit any of their stores across the valley and you will find signs asking that you sign their petition against excessive debit and credit card rates. Lest you think this is really no concern of yours, remember that Kangaroo passes these expenses on to the customer.

Just how much does Kangaroo have to pay their bank(s) for each dollar processed through debit or credit cards? Judging by their apparent large volume of business their charges should be on the lower end of the scale, or approximately .01 for each dollar paid via a debit card and .03 (or less) for each dollar paid via credit.

If this seems like a relatively small amount, consider your gasoline purchases in yearly dollar amounts and calculate one percent of that--that's the minimum Kangaroo and all other gasoline vendors have in all probability added to your per gallon cost. Then consider they may have added as much as three percent--just in case.

Does Kangaroo think these petitions will actually lower bank processing fees? We doubt it...but it looks good to customers.

What's up with this: Want to see the Cherokee town council fight of the week? Click on this link and give us your opinion. Our opinion is the video is confusing at best and would prove worthless if the Colbert County District Attorney should decide to bring charges against any one of the three involved.