In this video you will see why it is virtually impossible for a business to implement a surcharging solution on their own. Most businesses that add a fee are not compliant and all it takes is one customer reporting it the card brand.
To Pass on the credit card fee, merchants must comply with the contractual rules required by the card brands
- Merchants must be registered with the card brands
- Merchants cannot apply a fee to debit
- Merchants cannot profit off the transaction
- The Receipt must show fee amount as a separate line item
- The Credit Card fee and product or service must be processed as one transaction
- There are also Certain state restrictions
Most common reasons merchants are not compliant
- They are not registered with card brands
- Technology cannot differentiate between debit vs credit card. Many solutions allow you to process debit as credit
- When merchants accept a credit card, they typically do not know the cost of that card
Accept Credit Cards for 0%
Instantly Improve profit margins and stop paying expensive fees to accept credit card. Our surcharging solution passes on the fee to the consumer and you pay 0% in processing fees to accept credit cards. Some State Restrictions*
Benefits of B2Bs surcharging credit card fees infographic
Read the full article here What to Consider with B2B Credit Card Surcharging
What to Consider with B2B Credit Card Surcharging
This post discusses factors to consider with B2B credit card surcharging to find out if its right for your business.
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