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This is good news because it means you won’t have to inflate your base prices to coverpayment processing fees. It requires stringent adherence to regulatory guidelines and card network rules, from surcharge caps to disclosure requirements. Some states cap the surcharge rate to a set rate or dollar amount.
A wide range of firms in the payments sector are affected by the FCA’s Consumer Duty, with specific responsibilities applying to each to ensure good consumer outcomes are being delivered. These firms must adhere to the Duty’s requirements, ensuring their approach adheres to their business models and services offered.
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